SBI cards new feature explained in 10 points

Are you an SBI card holder? There is some good news you. SBI Card has launched 'SBI Card Pay', a feature which allows contactless payment using mobile phones at point of sale (PoS) terminals. 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. Basically, it is a payment feature based on Host Card Emulation (HCE) technology for faster, convenient and more secure card payments using mobile phones.

Here is all you need to know about 'SBI Card Pay'

1) To use SBI Card Pay, cardholders will have to do a one-time registration of their card on the latest version of SBI card mobile app.

2) Once the card is registered, users can complete payments simply by unlocking their phone screen and bringing the mobile device near the PoS terminal.

3) The facility has been launched on VISA platform and will function on any Android smartphone with Android OS KitKat version 4.4 and above.

4) How to use contactless SBI credit card to make payments

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.

Since the card information transmitted wirelessly by NFC is protected through tokenisation, the customer’s physical card information is never exposed to the merchant, making the transaction completely secure. Additionally, to make payments customers must set a device lock on their phones.

Payments will go through only when customers unlock their phone screens using fingerprint/screen lock or MPIN. Even in case of loss of mobile phone, card information stored in form of digital tokens cannot be accessed by any third party.

Customers simply have to inform the SBI Card customer service to block the digital token and can continue using their physical plastic cards.

5) A contactless transaction greatly reduces the risk of card loss and fraud through counterfeit/skimming.

6) The payments through contactless mode is allowed for a maximum amount of Rs10,000 in a day, with maximum capping of every transaction at ₹2,000.

7) For any transaction of amount more than ₹2,000, you would have to dip or swipe your credit card and enter the 4-digit PIN to authenticate the transaction.

8) The contactless SBI credit card can be used in Big Bazaar, Central, Costa coffee, Mc Donalds, Reliance Digital, Reliance Footprints, Reliance Fresh, Inox, Pizza Hut, Sahakari Bhandar, Reliance Smart, Starbucks.

9) Near Field Communication or NFC is a method of wirelessly transmitting data using radio waves. Tap to Pay uses NFC to wirelessly transmit payment data to payment terminals with NFC readers that have been activated for use. The payment information is transmitted in an encrypted format making the transaction completely secure.

10) Few differences between SBI Card Pay and SBI Card’s contactless credit card:

a. SBI Card Pay is enabled on SBI Card’s mobile app enabling contactless payments through a tap at NFC-enabled PoS. On the other hand, SBI Card’s contactless credit cards allow contactless transactions through ‘physical NFC-enabled card’ by tapping at NFC-enabled PoS

b. SBI Card Pay feature is launched only on VISA platform and will function on any Android smartphone with Android OS KitKat version 4.4 and above. Whereas, all the new cards issued by SBI Card are contactless cards, both for Visa and Mastercard platforms