Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • PNB Wave & Pay Credit Card

    The Wave & Pay Credit Card by Punjab National Bank offers contactless technology during the time of COVID-19. This PNB credit card is a Platinum card which offers a wide range of features and benefits across various categories. The Wave & Pay Credit Card comes with an annual fee of Rs.500 and an interest rate of 2.95% per month.

    Key Highlights of the Punjab National Bank Wave & Pay Credit Card

    • Reward points benefits
    • Contactless technology and additional security
    • Access to concierge services

    Features and Benefits of the PNB Wave & Pay Credit Card

    Reward Point Benefits For every Rs.150 spent on the card, 2 reward points will be given.
    Concierge Benefits 24x7 access to the concierge services of the bank.

    Punjab National Bank Wave & Pay Credit Card Limit

    The credit limit for the Punjab National Bank Wave & Pay Credit Card is assigned by the bank after considering several factors. Some of the factors taken into consideration by the bank are the credit score of the primary applicant, the credit utilisation ratio, along with the repayment habits of any past or ongoing debts.

    Security Features of the PNB Wave & Pay Credit Card

    • The transactions made through the contactless card are faster and more secure due to contactless technology.
    • The cardholder can use the card for contactless transactions amounting to less than Rs.2,000.
    • Contactless transactions maximum limit per day is Rs.6,000 for any number of transactions.
    • Charge slips will be optional for transactions up to or below Rs.2,000. However, for transactions amounting to more than Rs.2,000, a charge slip will be issued as per RBI guidelines.
    • The Wave & Pay Credit Card can be used as regular card at all Visa enabled merchant terminals, including those that are not enabled for contactless transactions.

    Punjab National Bank Wave & Pay Credit Card Fees and Charges

    Type of Fee Charge
    Joining fee Nil
    Annual fee Rs.500
    Finance charges 2.95% per month
    Cash advance 2% of the cash withdrawn or Rs.100 at PNB ATMs (higher amount will be taken)
    Credit limit over usage 2.5% or Rs.500
    Duplicate statement fee Rs.50
    Card replacement fee Rs.150
    Foreign currency transaction 3.50%
    Minimum amount due 5% of the total amount due

    Eligibility Criteria for Punjab National Bank Wave & Pay Credit Card

    Age The primary applicant must be least 18 years old.
    Nationality He or she must be a citizen of India or a non-resident Indian.
    Employment status The applicant must have a steady source of income.
    Credit Score An ideal CIBIL score is a major factor in getting the application approved.

    Documents Required for the PNB Wave & Pay Credit Card

    Identity Proof Income Proof Proof of Address
    Driving License Salary Slips Voter ID
    Voter ID IT Returns Aadhaar Card
    Aadhaar Card Form 16 Passport
    - - Ration Card

    Punjab National Bank Wave & Pay Credit Card FAQs

    1. How will the card work?

      The Wave & Pay Credit Card by PNB is embedded with a chip and a radio frequency antenna which helps in the contactless transactions made with the card. When the card is tapped against a machine, the payment details are transmitted wirelessly. The account details are seen on the machine and then processed through the Visa network.

    2. Is the Wave & Pay Credit Card more secure?

      The Wave & Pay Credit Card is much more secure as it doesn’t involve any exchange of the card for a payment to be made. The credit card is always in the hand of the cardholder to make transactions.

    3. Where can the Wave & Pay Credit Card be used?

      The credit card can be used anywhere a PoS machine is available. However, in case of the PoS machine being unavailable, the card can be used to swipe or dip as well.

    4. How far does the 'tap' have to be to the machine reader?

      All one has to do, is bring the card close to the machine for the reader to get the details of the card.

    5. Is there any limit on the value of products a customer can purchase with the credit card?

      There is no limit given for the value of products which a customer can purchase with the card. However, the contactless technology of the card can be used for any transaction amounting to Rs.2,000. For transactions above the value of Rs.2,000, the PIN or the signature of the cardholder is required as per the guidelines by RBI.

    6. How will purchases appear in the monthly statement?

      The purchases made on the card will appear like any other purchase made with a regular credit card. Contactless credit cards are different only as a payment method.

    7. What if a contactless transaction takes place as a customer is passing by?

      The contactless technology in the Wave & Pay credit card will work only when the card is waved at a maximum range of 2cms. Hence, even if the customer is at a short distance from the terminal, no transaction can take place.

    8. Will a customer be charged twice if the card is tapped more than once at a terminal?

      No. With the security of the card, even if it is tapped more than once at the terminal, the customer will only get billed only once for the purchase.

    9. How will the cardholder know if the transaction is successful?

      The cardholder will receive a charge-slip from the merchant where the transaction has taken place and also will receive an SMS on the registered mobile phone number once the transaction is successful.

    10. What can be done if the card is lost or stolen?

      In case of loss or theft, the customer should contact the PNB customer care or visit the nearest branch and request for the card to be blocked and request for a replacement card.

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