SBI Card launches contactless mobile phone payments facility

SBI Card announced the launch of ‘SBI Card Pay’, a feature which allows contactless payment using mobile phones at PoS terminals. Using SBI Card Pay, customers can make contactless payments at near field communication (NFC) enabled point of sale terminals with just one tap of their mobiles, without using the physical credit card or entering any PIN.

SBI Card Pay is a payment feature based on Host Card Emulation (HCE) technology for faster, convenient and more secure card payments using mobile phones.

Static/Current Takeaways Important For RBI Grade ‘B’ 2019:

  • CEO of SBI Card: Hardayal Prasad; Founded: October 1998.
  • Headquarters: Gurugram, Haryana.

Source: The Times of India

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