Points to Remember:
- The SBI Card launched ‘SBI Card Pay’, a payment feature based on Host Card Emulation (HCE) technology for faster, convenient and more secure card payments using mobile phones.
- 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.
- As a first of its kind payment solution in India, it is built as part of the SBI Card mobile app providing ease to customers to use just one app to manage their credit card account as well as make contactless payments.
- SBI Card Pay will allow customers to set desired per transaction and daily transaction limits. Currently, other HCE enabled apps allow per transaction limit of up to INR 2000 and daily transaction limit of up to INR 10,000, restricting the effective usage of this feature.
About SBI Card Pay:
- To use SBI Card Pay, cardholders have to do a one-time registration of their card on the latest version of the SBI Card mobile app. Once the card is registered, users can complete payments simply by unlocking their phone screen and bringing the mobile device near the point of sale terminal. This facility has been launched on VISA platform and will function on any Android smartphone with Android OS KitKat version 4.4 and above.
- SBI Card Pay is a highly secure platform as it uses tokenisation which converts customer’s sensitive card information (Card Number, Expiry Date, CVV etc.) into a device-specific digital token.
Important Possible questions based on above News:
- Which bank has launched a contactless mobile payment facility for credit card holders at PoS terminals? SBI
- SBI Card Pay is a payment feature based on which technology for faster, convenient and more secure card payments using mobile phones. Host Card Emulation (HCE) technology