State Bank of India (SBI) on Thursday announced the launch of mVisa, a mobile-based payment solution. The service will enable customers to make payments from their smartphones, by simply scanning the unique merchant QR (Quick Response) code at merchant outlets.
mVisa is a cardless solution which facilitates payment by scanning the QR code displayed at the merchant outlet or from the merchants’ mobile. The facility will be available both debit card holders as well as internet banking customers of SBI.
Bank customers can download the latest version of SBI Anywhere application, from ‘Google Play Store’ and register for mVisa payments by clicking the mVisa icon on the home screen.
Similarly, SBI mVisa merchant app is also available in ‘Google Play Store’ and is used for receiving the payment notification, generation of static and dynamic QR codes, viewing transaction history etc. by the merchants
SBI mVisa merchants can accept payment from any mVisa customers. While in case of static QR code amount is filled by the mVisa customer himself, in case of dynamic QR code amount can be filled by merchants and can be authorized by the customer after scanning of QR code.
In first phase, State Bank of India’s mVisa service has been introduced in Bangalore city. The facility will be gradually expanded to other cities.