State Bank of India or SBI has finally launched the much waited contactless debit and credit cards, which are termed as SBlinTouch cards. This is manufactured after taking help of latest NFC or Near Field Technology. These credit and debit cards are termed as way more secure and hassle free in nature, and can be used at any merchant outlets or near ATMs. Moreover, with the help of NFC technology, users now have the liberty to make payments by just tapping or waving the card near any of the contactless reader. They are now free from dipping or swiping the card, which is a working procedure for other cards.
More about the cards
The bank is known for issuing 1.08 lakhs numbers of new cards, to the wide range of customers in eight of the largest metros. On the other hand, the remaining customers are likely to avail cards in the upcoming months. These cards are known for coming with a fraud liability cover, which is the amount of 10,000 bucks. These cards are known to be issued by the credit card arm of the bank, tagged under SBI card. This is mainly termed as joint venture to go with GE capital.
Joining hands with private sector
This SBlinTouch card is a mark of SBI, joining hands with its private firm and rival, at the same time. With the help of near field technology, the services are likely to enhance a lot, as well. These contactless credit and debit cards are considered to be use at merchant outlets or any TAM, as mentioned earlier. There are certain other private lenders, which have already launched such cards, and SBI is the third name to join the list. These cards are now spreading quite fast, and it can be defined as another feather on the cap, for the banking industry. the main aim is to check on the customer satisfactory level.
More about SBI count
According to the latest track record, it has been found out that the bank has already taken help of 2.5 lakh terminals to go handy with Point of Sale value. Out of this number, one lakh is associated with the top eight metros, and these are likely to be upgraded to make the services NFC enabled. This upgrade is likely to bank another cost of 2,500 bucks, for single machine. This is likely to be stated as a costly affair, but the result will be just outstanding.
Beneficial points to deal with
As per the head of SBI, it has already been stated that these contactless cards are considered to be the safest option, which the consumer can possibly get. These contactless services are never going to leave your hand, and can easily reduce the risk of card fraud or loss. According to the latest studies, it has been found out that average contactless transactions can be termed to be three times faster, when compared with the cash payments. It can even help in reducing queues at some of the busy retail shops or outlets.