State Bank of India, India’s largest public sector bank, has rolled out a new smart card in collaboration with Mother Dairy, to enable its customers to buy milk products using smartcard.
Known as ‘SBI-Mother Dairy SmartChange Card’, the new contactless smartcard is based on first-of-a-kind initiative in the dairy industry.
The service, which is currently available at 76 outlets in the country’s National Capital Region (NCR), will be extended to 150 outlets soon. The dairy firm has plans to cover over 1,500 booths and Safal outlets by end of this year.
Mother Dairy fruit & vegetable managing director S Nagarajan was quoted by The Hindu BusinessLine as saying: "We realised that we had the dual problem of tendering the exact change to customers and there were hassles regarding the same for the worker at the booth due to usage of coins."
The prepaid card can be purchased by paying INR25 ($0.41), which will have top-up of INR1,000 ($16.51), with INR500 ($8.26) as the limit per transaction. The company will charge INR10 ($0.17) as monthly fee from the card users.
SBI corporate strategy and new business managing director said: "We will roll out the technology, once the experience in the NCR region is successful, to other centres such as Hyderabad, Mumbai and Chennai."