Comviva, SBI Card Shine at 2020 Payments & Cards Awards

By Ahmed Rahma

For the ‘SBI Card Pay’ service, the global leader in digital solutions, Comviva and the leading credit card issuer in India, SBI Card, have won more than two prestigious awards.

The organisations, honoured with Payments & Cards Award 2020, PayTech Award 2020 and InnTech Award 2020 for the ‘SBI Card Pay’ service, were recognized as the winners in the ‘Best Payments Technology Initiative of the Year’ category at the Payments & Cards Awards 2020.

They were also accorded, ‘Best Cards Initiative’ category at the PayTech Awards 2020 and ‘Best Implementation of Technology by a Financial Sector Enterprise’, ‘Best Technology Provider/Vendor for Financial Technology (FinTech) Services’ and ’Best Integration of Technology in a Banking/Payments/Mobile Wallet Interface or Application’ categories at the InnTech Awards 2020.

Commenting on the awards, Mr Ashwini Kumar Tewari, Managing Director & CEO, SBI Card, said, “Driven by customer centricity, SBI Card has always been at the forefront of adopting latest technologies that benefit customers.

“SBI Card Pay is one such service that leverages next-gen HCE technology, allowing customers to create a virtual version of their physical credit card on mobile phone and then tap the mobile phone on merchant’s NFC POS to make the payments.

“This ‘tap and pay’ contactless payment process is faster, secure and more convenient.”

Also, speaking, Mr Manoranjan ‘Mao’ Mohapatra, Chief Executive Officer at Comviva said, “We are honoured to receive these awards.

“The awards validates and recognizes Comviva’s efforts in bringing consumer-focused, innovative and user-friendly digital payment solutions to the market.

“Globally HCE and tokenization are making card payments frictionless and secure and we believe that in India also they will redefine the card payment experience.

“With the growing NFC POS infrastructure in India and mobile phones becoming de facto wallets for consumers, we expect ‘tap and pay’ services like SBI Card Pay are the future of card payments in India.”

The SBI Card Pay service enables customers to create a virtual card on their mobile phone for their physical Visa or Mastercard SBI Credit Card.

Thereafter, customers can make payments at merchants simply by unlocking their mobile phone screen using fingerprints, the screen lock facility or an MPIN and tapping the phone at a Near-Field Communication (NFC) POS.

This simple ‘tap and pay’ contactless process has made card payments swifter, hygienic and more seamless for customers.