Last reviewed: 10 October 2026. Details checked against PNB’s official Wave & PayCredit Card page on creditcard.pnb.bank.in, the PNB Visa Platinum card page, the bank’s credit card FAQ, its MITC and its Schedule of Fees and Charges.
The PNB Wave and Pay credit card is Punjab National Bank’s contactless Visa credit card: you tap it on a card machine instead of swiping or inserting it, and small bills go through without a PIN. PNB still lists the Wave & PayCredit Card on its current credit card page as of 10 October 2026, but that page is a set of FAQs on how tap to pay works. It does not publish separate fees or rewards. PNB’s credit card FAQ describes Wave n Pay as a Platinum variant within its Visa Platinum range, so this review uses the Visa Platinum terms for costs and rewards and flags that link clearly.
Worth knowing upfront: most PNB credit cards are now contactless. The bank’s card pages for RuPay and Visa variants all carry the same ₹5,000 tap to pay limit, so the Wave and Pay name matters less today than when it launched.
PNB Wave and Pay credit card: key facts
| Feature | Details |
|---|---|
| Network | Visa (PNB’s FAQ lists Wave n Pay under its Visa Platinum variants) |
| Contactless limit | Up to ₹5,000 per transaction without a PIN; PIN needed above that |
| Joining fee | Nil (Visa Platinum terms) |
| Annual fee | ₹500 + 18% GST (₹590) (Visa Platinum terms) |
| Fee waiver | Previous year spend above the credit limit, a retail transaction every quarter and no irregularity on the account |
| Reward rate | 1 point per ₹100 (Visa Platinum terms) |
| Point value | ₹0.25; minimum redemption 1,000 points |
| Lounge access | None |
| Add-on card | ₹500 joining fee per card, no annual fee |
| Forex markup | 3.5% |
| Eligibility | Minimum annual income ₹5 lakh (Visa Platinum) |
| Best for | People who want quick tap payments for small daily bills |
All fees attract 18% GST. Because PNB does not print Wave and Pay specific charges, ask the bank to confirm the fee on your card before you accept it.
How tap to pay works on the PNB Wave and Pay credit card
Making a payment
The card carries a chip and a small radio antenna. At a terminal showing the contactless symbol, hold the card within about 2 cm of the reader. For bills up to ₹5,000, no PIN or signature is needed; above that, PNB follows RBI rules and asks for a PIN. Where the terminal is not contactless, you can still insert or swipe the card as usual.
Billing and safety
Each tap shows up on your statement like any other purchase, and you get an SMS when it goes through. If the card is accidentally tapped more than once for the same bill, PNB says you are charged only once. The older FAQ also mentions a ₹6,000 daily ceiling on PIN free spends, while the current card pages give the ₹5,000 per transaction limit, so treat ₹5,000 as the working cap.
What you would actually earn
Using the Visa Platinum earn rate of 1 point per ₹100:
- Monthly spend: ₹15,000, mostly small tap payments, so ₹1,80,000 a year
- Points: ₹1,80,000 ÷ 100 = 1,800 points
- Value at ₹0.25: 1,800 × ₹0.25 = ₹450
- Redemption fee: ₹99 + 18% GST = ₹116.82
- Net value if the fee is waived: ₹450 minus ₹116.82 = about ₹333
- If the ₹590 fee is charged: ₹333.18 minus ₹590 = a loss of about ₹257
The waiver is the hard part. You must spend more than your credit limit over the year, so a card with a ₹1,00,000 limit needs over ₹1,00,000 of annual spend, along with a retail purchase every quarter and a clean repayment record.
Pros and cons
Pros
- Fast tap payments up to ₹5,000 without a PIN
- No joining fee under Visa Platinum terms
- Works abroad on the Visa network
- Duplicate taps are billed only once
Cons
- No separate published fee or reward schedule for Wave and Pay
- Strict three part annual fee waiver
- No lounge access
- Low return of 0.25% and a ₹99 plus GST redemption fee
- 3.5% forex markup
Fees and charges
| Charge | Amount |
|---|---|
| Interest on revolving credit | 2.95% a month (35.89% a year) |
| Interest-free period | 20 to 50 days |
| Late payment fee | Nil up to ₹1,000; ₹500 (₹1,001 to ₹5,000); ₹600 (₹5,001 to ₹10,000); ₹750 (above ₹10,000) |
| Cash advance | 2% of the amount, minimum ₹100 at PNB ATMs, ₹150 at other ATMs, ₹300 overseas (Visa Platinum) |
| Over-limit fee | 2.5% of the amount over the limit, minimum ₹500 |
| Card replacement | ₹250 |
| Cheque or auto-debit bounce | ₹250 per instrument |
| Forex markup | 3.5% |
| Fuel surcharge waiver | 1% refunded on fuel bills of ₹500 to ₹4,000, up to ₹350 per statement cycle |
Eligibility and documents
- Primary cardholder aged 21 to 70
- Minimum annual income of ₹5 lakh for Visa Platinum cards
- Identity and address proof, income proof and PAN
- Up to two add-on cards for close family aged 18 to 70
Customers without income proof can ask about a PNB card against a fixed deposit; see our PNB FD interest rates for deposit returns.
How it compares
| Card | Annual fee | Rewards | Lounge |
|---|---|---|---|
| PNB Wave and Pay (Visa Platinum terms) | ₹500, strict waiver | 1 point per ₹100 | None |
| PNB Visa Platinum | ₹500, strict waiver | 1 point per ₹100 | None |
| PNB Visa Signature | ₹2,000, waived at ₹3 lakh spend | 2 points per ₹100 | None |
Our verdict on the PNB Wave and Pay credit card
Wave and Pay is best seen as a contactless feature of PNB’s Visa Platinum card, not a separate product with its own perks. Tap payments are handy for groceries, pharmacies and fuel, but the rewards are thin and the fee waiver is tough. If you want a PNB card on the RuPay network that also works on UPI and offers lounge visits, look at the RuPay Select instead.
How to apply
Apply through PNB’s online credit card portal or a PNB branch and ask for the contactless Visa Platinum variant. The official PNB Wave & PayCredit Card page explains the tap to pay rules.
FAQs
What is the tap to pay limit on the PNB Wave and Pay credit card?
Up to ₹5,000 per transaction without a PIN. Larger bills need your PIN, in line with RBI rules.
Which network is the Wave and Pay card on?
Visa. PNB’s credit card FAQ lists Wave n Pay as a Platinum variant in its Visa range.
What happens if I tap twice by mistake?
PNB says you are billed only once for the purchase.
Does the card earn reward points?
Under the Visa Platinum terms, you earn 1 point per ₹100, worth ₹0.25 a point.
Can I still swipe the card?
Yes. Where a terminal does not accept contactless payments, you can insert or swipe the card as normal.
This article is for informational purposes only and does not constitute financial advice. Card features and charges can change; check the bank’s official website before applying.
