State Bank Of India Launches Visa Card With Mobile-To-Mobile Payment Option; Ties Up With Airtel’s m

The Hindustan Times: India’s largest bank, State Bank of India, announced the launch of its SBI Visa prepaid cards on the ‘mChq’ (mobile-to-mobile payment option) platform in the country. The cards in its initial period will be available only to Airtel subscribers at IIT Bombay, the bank said in a statement. The new scheme would enable merchants to use their mobile phones as a secure point of sale terminal besides helping students in getting rid of physical payment cards, it said. The bank is expected to extend this service to other IIT campuses in the coming months.

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