Country’s biggest lender State Bank of India has announced the launch of mVisa, a mobile-based payment solution.  The service will help customers make payments through their smartphones by simply scanning the unique merchant QR (Quick Response) code at merchant outlets.

• The mVisa is a card-less solution which facilitates payment by scanning the QR code displayed at the merchant outlet or from the merchants mobile.
• SBI customers (Debit Card holders and Internet Banking customers, having transaction rights) can now make easy payments to the merchants by simply scanning QR code image.
• This eliminates the need to swipe the physical card at a point-of-sale (PoS) machine.
• Speaking at the launch, SBI Deputy Managing Director (Corporate Strategy & New Business) Manju Agarwal said that 26 million SBI customers are on internet banking platform and only six million customers are on State Bank Anywhere.
• She said mVisa service is a Bank agnostic and an interoperable low cost solution ie Any Bank mVisa customer can transact on any mVisa merchants and likewise any mVisa merchant can accept payment from mVisa customers of any bank.