The country’s largest bank, State Bank Of India has launched a mobile payment solution that will enable customers to make digital payments at offline stores by scanning a QR (quick response) code on their smartphones at merchant outlets. Private lenders ICICI Bank and Axis Bank have already introduced the mVisa application for their customers.
The service is launched in Bangaluru with a sizable number of merchants and will soon expand into other cities. The service will be available to all SBI credit card, debit card and net banking users. The Bank customers can simply download the latest version of SBI Anywhere application from Google Play Store and need to register for mVisa payments by simply clicking the mVisa icon on the home screen.
The mVisa application does not require any additional investment from the merchant outlet. Card-less transactions will increase efficiency and convenience of payment and may also reduce potential frauds through cloning of cards.
So let’s discuss some questions related to this post :
1. Name the bank which has launched the card-less payment solution for offline transactions recently ?
2. Name the two private sector bank which have already launched the card-less payment solution for offline transactions ?
Courtesy : Business Standard