RBL Bank Mastercard partner to offer first-of its-kind payment functionality

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.

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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.

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