SBI Launched mVisa, a Mobile-Based Payment Solution App
State Bank of India (SBI), India's largest commercial bank launched mVisa, a mobile-based payment solution app. The app would enable customers to make cashless payments simply by scanning the unique merchant quick response (QR) code at shopping outlets.
mVisa is a mobile based payments solution that would facilitate payments by scanning the QR code from the merchant's mobile. SBI customers, including debit card holders and internet banking customers who have transaction rights, can now make payments to merchants by scanning the code. This would eliminate the need to swipe physical cards at a card swiping machine.
"With availability of smart phone increasing by leaps and bounds, Mobile-based payments in India have to rise in a big way. Introduction of mVisa, a convenient scan and pay-...