The present payment scenario involves payment through cash and smart cards. In the retail world, the point of sale terminal (POS) are used along with smart cards for the payment process. The problems with this system is that, it is very slow, less secure and time consuming. Since, contactless payment in India has got a big boost with the payment scenario joining the game. The proposed system in the paper, uses this same concept of Near field Communication (NFC) where Two NFC-Enabled Mobile phones are involved. To enable more security, the system will be using Cloud Storage. Also the system will provide security using the One-Time-password (OTP) which is a automatically, generated numeric string of characters.