Mastercard introduces contactless payment on SBI Card App
MAS Team | 27 November 2020
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SBI Card Mastercard customers now need not carry physical cards and can pay using tap-and-go in a contactless manner. This is because Mastercard and SBI Cards and Payment Services has launched contactless payments on the SBI Card app, writes The Economic Times.
 
According to the Mastercard press release, this is the first-ever app of a credit card issuer in India to use Mastercard's tokenisation platform, Mastercard Digital Enablement Service (MDES), that allows payment credentials to be securely tokenised and stored in mobile devices. 
 
"So, the cardholders enjoy the benefit of paying up to Rs 2,000 with just a tap on their mobile and for payments above Rs 2,000 they will need to enter their Card PIN on the terminal," the press release stated. 
 
This feature is based on tokenisation which provides high security and trust to consumers, as the actual card details are not shared with the merchant. SBI Card Mastercard cardholders will have to do a one-time registration of their card on the latest version of their mobile app, as the press release. Once registered, they can complete payments simply by unlocking their phone screen and bringing the mobile near the contactless PoS terminal.