RBL Bank and Mastercard have announced their partnership to launch a mobile-based consumer-friendly payment solution ‘Pay by Bank App’, a first-of-its-kind payment functionality in India. RBL Bank account holders can now enjoy contactless transactions across the world through their mobile banking application both in-store and online. This functionality will be available at all Mastercard accepting merchants, worldwide that accept contactless and online payments.
About the App:
- To provide enhanced security, ‘Pay by Bank App’ ensures that Bank customer’s payment credentials are never exposed to the merchant, making the transaction completely secure.
- Customers will continue to receive the Mastercard consumer protection benefits that they currently enjoy on their debit cards.
Important takeaways for all competitive exams:
- RBL Bank Founded: August 1943;
- RBL Bank Headquarters: Mumbai;
RBL Bank MD & CEO: Vishwavir Ahuja.
- Mastercard Headquarters: New York, United States.
- Mastercard President: Michael Miebach.