RRB NTPC 29 April 2016 Paper

(3) India’s first contactless mobile payment solution ‘iTap’ has been launched by ICICI Bank. Through ‘iTap’, its customers will be able to make payments by waving their cellphones near an NFC-enabled merchant terminal. In it, ICICI bank has used the Host Card Emulation(HCE) technology, which creates ‘virtual’ cards for ‘physical’ credit or debit cards (Visa/MasterCard) of the bank, as selected by the customer.