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What Is ‘SBI Card Pay’? How To Use It?

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SBI Card's novel functionality referred as 'SBI Card Pay' facilitates contactless payment at PoS terminals using mobile phones. Using this feature that is based on Host Card Emulation (HCE) technology, SBI Card holders will be able to make faster and secure card payments with just a tap of their smartphones at near field communication-enabled PoS terminals, without actually using the credit card or entering any PIN. It is to be noted that the new feature is available only on the VISA platform.

 

What Is ‘SBI Card Pay’? How To Use It?

How 'SBI Card Pay' feature works?

SBI Card Pay makes use of the tokenization system which converts card details such as card number, expiry date and CVV into a digital token that renders the overall payment process safe. Further, as the card details are communicated through NFC in wireless mode and safeguarded via tokenization, confidential details on the card are not revealed to the merchant.

"SBI Card Pay is aimed at redefining the payments experience for our customers. Using cutting-edge technologies such as HCE we want to provide seamless yet swift payments at a speed that matches dynamic lifestyle of today's consumers. We believe that contactless payments are playing a key role in country's digital payments drive and as the supporting infrastructure increases countrywide, adoption is bound to accelerate significantly," said Hardayal Prasad, MD & CEO, SBI Card.

How to use SBI Card Pay?

SBI Card holders will have to get a one-time registration process done in respect of their card on the latest SBI Card mobile app.

As and when the card is registered, users can make contactless card payment using just their phones at POS terminal that are NFC enabled.

Notably, the feature shall only work for Android mobile devices.

Payment limit allowed through contactless mode

Through the contactless payment mode, a maximum of Rs. 10,000 per day can be transacted. But at individual level, the limit allowed is Rs. 2000 per day and if you need to make payments over this threshold, users will need to authenticate the transaction using their credit card.

 

GoodReturns.in

Read more about: credit card sbi
Story first published: Thursday, October 24, 2019, 13:02 [IST]
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