SBI Cards, a subsidiary of the State Bank of India, has leveraged Comviva’s host card emulation (HCE) technology to accelerate the adoption of SBI Card Pay service.
SBI Card Pay was rolled out in October this year. The service enables users to produce a virtual card on their mobile phone using for their physical Visa SBI credit card.
Now, the cardholders can just bring their smartphone on a Near Field Communication (NFC)-enabled point of sale (POS) terminal to complete the transaction.
Powered by Comviva’s HCE Module from its mobiquity Banking suite, the new service is said to provide quick and easy contactless mobile payments to users.
Upon registering their Visa SBI credit card on the SBI Card mobile application, the users with an Android smartphone will be able to produce a digital version of the physical card.
Subsequently, the users will have to unlock their mobile phone screen, tap the phone at an NFC POS to conclude the payment process.
SBI Card managing director and CEO Hardayal Prasad said: “SBI Card Pay is leveraging next-gen technologies like HCE to deliver faster, secure and more convenient contactless mobile payments to our 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.”
Comviva COO of mobile financial solutions Srinivas Nidugondi stated: “With the growing NFC POS infrastructure in India and mobile phones becoming de facto wallets for consumers, we expect ‘tap and pay’ to become the future of contactless payments in India.
“We are happy to say that Comviva is supporting SBI Cards to make this future possible through its mobiquity Banking suite.
“The suite leverages HCE and tokenisation for seamless and secure contactless mobile payments and to bring the payment experience in India on par with the developed world.”
The SBI Card Pay service leverages tokenisation to change a customer’s card data into a device-specific digital token so that the sensitive information can be protected during the transaction.
Last month, SBI Cards partnered with Indian air carrier Vistara to launch co-branded credit cards for frequent flyers.