SBI launches new mobile-based payment app for customers

Posted on:06 May 2016 12:21:03
SBI launches new mobile-based payment app for customers
06 May 2016 Current Affairs: The country's largest bank State Bank of India which is giving tough competition to private sector lenders in digital innovations has now launched 'mVisa' - a mobile-based payments solution. 

The service will enable customers to make payments from their smartphones, by simply scanning the unique merchant Quick Response (QR) code, at merchant outlets. 

mVisa is a card-less solution which facilitates payment by scanning the QR code displayed at the merchant outlet or from the merchants mobile .The new technology eliminates the need to swipe the physical card at a point-of-sale machine. 

SBI customers will have to download the latest version of SBI Anywhere application and register for mVisa payments to enable the service. A similar SBI mVisa merchant app will also be made available for merchants to receive payment notification and generate QR codes. 

This cost effective digital offering will not only provide our large base of consumers with an easy, convenient and secure payment product but will also facilitate small merchants with any-time payment, thereby changing the way businesses transact and customers pay .The mVisa service is a bank agnostic - which means that any bank mVisa customer can transact on any mVisa merchants and any mVisa merchant can accept payment from mVisa customers of any bank. 

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs November 2017

22 NOVEMBER
NEWS
21 NOVEMBER
NEWS
20 NOVEMBER
NEWS
19 NOVEMBER
NEWS

Current Affairs October 2017

31 OCTOBER
NEWS
30 OCTOBER
NEWS
29 OCTOBER
NEWS
28 OCTOBER
NEWS

Current Affairs September 2017

30 SEPTEMBER
NEWS
28 SEPTEMBER
NEWS
27 SEPTEMBER
NEWS
26 SEPTEMBER
NEWS