Punjab National BankPNB Wave & Paycredit Card – Benefits, Fees & Eligibility
Is the PNB Wave & Paycredit Card Right for You?
The PNB Wave & Paycredit Card is best suited for users who prioritize Shopping. With a joining fee of Nil and a renewal fee of Nil, this card is positioned for cardholders who can maximize its benefits to justify the cost. It offers Not Applicable as its primary reward mechanism, with a rewards rate of Not Applicable.
Key Card Details
Nil
Nil
Not Applicable
Not Applicable
Notable Perks
Domestic Lounge Access
Not Applicable
International Lounge Access
Not Applicable
Insurance Coverage
Not Applicable
Spend-Based Waiver
Not Applicable
Movie Benefits
Not Applicable
Golf Benefits
Not Applicable
Things to Consider
Daily limit of Rs. 6000 for PIN-less transactions might restrict higher value contactless spending.
Card needs to be within 2cms of terminal, which might be inconvenient in some setups.
Lack of specified reward programs or additional benefits beyond contactless convenience.
Benefits & Features
Welcome Offer
Not Applicable
Rewards Rate
Not Applicable
Reward Type
Not Applicable
Reward Redemption
Not Applicable
Domestic Lounge Access
Not Applicable
International Lounge Access
Not Applicable
Premium Benefits
Not Applicable
Insurance Coverage
Not Applicable
Movie Benefits
Not Applicable
Dining Benefits
Not Applicable
Travel Benefits
Not Applicable
Fees & Charges
Joining Fee
Nil
Renewal Fee
Nil
Spend-Based Waiver
Not Applicable
Foreign Currency Markup
Not Applicable
Interest Rates
Not Applicable
Fuel Surcharge Waiver
Not Applicable
Cash Advance Charges
Not Applicable
Rewards Redemption Fee
Not Applicable
Pros & Cons
Pros
Key benefits and features of this card.
Enables swift and secure payments using innovative contactless technology.
Offers enhanced control during transactions as the card stays in your hand.
Provides flexibility with both contactless and traditional swipe/dip payment options.
Waives PIN/signature for small transactions up to Rs. 5000, boosting convenience.
Features robust security measures to prevent accidental charges or double billing.
Cons
Key drawbacks and limitations of this card.
Daily limit of Rs. 6000 for PIN-less transactions might restrict higher value contactless spending.
Card needs to be within 2cms of terminal, which might be inconvenient in some setups.
Lack of specified reward programs or additional benefits beyond contactless convenience.
Product Details
Features contactless technology for quick and secure payments.
Allows transactions without physical insertion into the terminal.
Enhanced security as the card remains in the customer's hand.
Can be used at both contactless and standard PoS machines.
PIN/signature waived for transactions up to Rs. 5000.
Daily limit of Rs. 6000 for PIN-less contactless transactions.
Ensures single billing even with multiple taps for one purchase.
Provides charge-slip and SMS for transaction confirmation.
Benefits & Features
Welcome Offer
Not Applicable
Rewards Rate
Not Applicable
Reward Type
Not Applicable
Reward Redemption
Not Applicable
Domestic Lounge Access
Not Applicable
International Lounge Access
Not Applicable
Premium Benefits
Not Applicable
Insurance Coverage
Not Applicable
Movie Benefits
Not Applicable
Dining Benefits
Not Applicable
Travel Benefits
Not Applicable
What matters, explained clearly
PNB Wave & Pay Credit Card
Introduction
The PNB Wave & Pay Credit Card is an innovative payment solution equipped with contactless technology, allowing cardholders to make swift and secure payments by simply waving their card at compatible terminals. This card combines the convenience of contactless transactions with the flexibility of traditional swipe or dip methods, ensuring a seamless payment experience.
Important Product Details
- Contactless Functionality: The card features an embedded chip and a radio frequency antenna, enabling wireless transmission of payment details when tapped or waved against a contactless payment terminal.
- Payment Method: Transactions can be completed wirelessly by waving the card, eliminating the need for physical insertion into the terminal.
- Security:
- The card remains in the customer's hand during a contactless payment, providing enhanced control and security.
- Contactless technology requires the card to be within a maximum range of 2cms from the terminal to function, preventing accidental transactions.
- A cashier must first enter the transaction amount on the PoS machine before the card can be tapped and payment processed, further preventing unintended charges.
- Usage Locations:
- Can be used at any PoS machine enabled for contactless payments, identifiable by the contactless symbol.
- If a contactless PoS machine is not available, the card can still be used for standard swipe or dip transactions.
- Tap Distance: The card needs to touch or be brought close to the terminal screen (within 2cms) for a contactless transaction.
- Transaction Limits for PIN/Signature Waiver:
- For a total bill value of Rs. 5000 or less, transactions can be completed by simply waving the card without requiring a PIN or signature.
- For a total bill value of Rs. 5000 or more, customers are required to enter their PIN as per RBI guidelines.
- There is an overall daily limit of Rs. 6000 for transactions that can be completed without entering a PIN.
Other Details
- Monthly Statement: Purchases made in contactless mode will be displayed in the monthly statement just like any other purchase made with a regular card.
- Prevention of Double Charging: Even if the card is tapped more than once at the terminal for a single purchase, the customer will only be billed once for that transaction.
- Transaction Confirmation: Upon a successful transaction, the customer will receive a charge-slip from the merchant and an SMS notification on their registered contact details.
- Lost or Stolen Card: In case the card is lost or stolen, the customer should immediately contact customer care or visit the nearest branch to have the card blocked and request a replacement card.