Trending Now
SBI Card, India’s leading credit card issuer,
has recently launched the SBI Card Pay
service that enables customers to create a
virtual card on their mobile phone for their
physical Visa SBI credit card. The customers
can now simply tap their mobile phone on a
Near Field Communication (NFC)-enabled
point of sale (POS) terminal to make payments.
The service leverages host card emulation
(HCE) technology and tokenisation to deliver
swift, seamless, secure and convenient
contactless mobile payments to customers.
To avail of the SBI Card Pay service, customers
with an Android smartphone (housing Android
OS KitKat version 4.4 and above) have to
register their Visa SBI credit card on the SBI
Card mobile application. This creates a virtual
version of the physical card. Thereafter,
customers can make payments at merchants
by unlocking their mobile phone screen using
fingerprints, the screen lock facility or an MPIN
and tapping the phone at an NFC POS. This
simple “tap and pay” process has made
contactless mobile payments swifter and more
seamless for customers.
Security has remained a priority, whilst
launching this service. The SBI Card Pay
service uses tokenisation to convert a customer’s
card information into a device-specific digital
vritti
January 2020
21
token. Hence, while executing a transaction, a
digital token is shared and the customer’s
actual card information is never revealed to
the merchant, thus securing the transaction. In
case the customer’s mobile device is misplaced,
details of the card remain secure, as it is
stored as digital tokens.
Moreover, customer convenience remains
paramount. The service is a part of the SBI
Card mobile application, which is a one-stop
shop for managing credit card account, as
well as making payments. Customers do not
need to download any additional mobile
application for this service. SBI Cards also
allows customers the choice to set limits
pertaining to per transaction and daily
transactions. In case the customer’s mobile
device is misplaced and the digital token has
been blocked, the physical card can still be
utilized.
SBI Card Pay is leveraging next-gen
technologies like HCE to deliver faster,
secure and more convenient contactless
mobile payments to consumers, redefining
their payment experience. This new service
will accelerate the growth of contactless
mobile payments in India and make the
country digitally empowered in the field of
payments technology.