State Bank of India (SBI) has launched contactless credit and debit cards ‘SBIinTouch cards’ using latest near field technology (NFC). These contactless debit and credit cards are more secure and hassle-free to use at merchant outlets or ATMs and use the NFC technology which enables users to make payments by waving or tapping the card near the contactless reader instead of swiping or dipping it.
The bank has already issued 1.08 lakh new cards to its customers in the eight largest metros and the remaining customers will get the cards in the following months.
These cards come with a fraud liability cover of Rs 100,000 and the cards will be issued by the bank’s credit card arm SBI Card, which is a joint venture with GE Capital.
