The customers can now simply tap their mobile phone on an NFC-enabled POS terminal to make payments. Besides SBI Card app, the service is powered by Comviva's HCE Module from its mobiquity Banking suite, that 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 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.
The SBI Card Pay service uses tokenisation to convert a customer's card information into a device-specific digital token. Hence, while executing a transaction, a digital token is shared and the customer's actual card information is never revealed to the merchant. In case the customer's mobile device is misplaced, details of the card remain secure, as it is stored as digital tokens.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright