State Bank of India Thursday May 14,2015 joined its private sector rivals to launch
contactless credit and debit cards using latest near field technology
(NFC).
Called the SBIinTouch cards, these contactless debit and credit cards are more secure and hassle-free to use at merchant outlets or ATMs and use the NFC technology which enables users to make payments by waving or tapping the card near the contactless reader instead of swiping or dipping it.
Private lenders ICICI Bank and HDFC Bank have already launched such NFC cards.
Launching the cards, SBI chairperson Arundhati Bhattachrya said the bank has already issued 1.08 lakh new cards to its customers in the eight largest metros and the remaining customers will get the cards in the following months.
The bank has 2.5 lakh Point of Sale terminals, out of which 1 lakh in the top eight metros will be upgraded so that they are NFC enabled, she said, adding that this upgrade will cost the bank under Rs 2,500 for each machine.
Called the SBIinTouch cards, these contactless debit and credit cards are more secure and hassle-free to use at merchant outlets or ATMs and use the NFC technology which enables users to make payments by waving or tapping the card near the contactless reader instead of swiping or dipping it.
Private lenders ICICI Bank and HDFC Bank have already launched such NFC cards.
Launching the cards, SBI chairperson Arundhati Bhattachrya said the bank has already issued 1.08 lakh new cards to its customers in the eight largest metros and the remaining customers will get the cards in the following months.
The bank has 2.5 lakh Point of Sale terminals, out of which 1 lakh in the top eight metros will be upgraded so that they are NFC enabled, she said, adding that this upgrade will cost the bank under Rs 2,500 for each machine.
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