sbiINTOUCH and Visa payWave enabled contactless debit cardholders can now enhance their shopping experience at Big Bazaar and Food Bazaar outlets by quicker, convenient and secure checkouts.
The contactless cards will now allow customers to pay by simply presenting their cards at the PoS (Point of Sales) terminals of Big Bazaar and Food Bazaar outlets without entering the pin or signing transaction receipts upto INR 2,000.
In the first phase, sbiINTOUCH Contactless Debit Cards will be accepted at Big Bazaar and Food Bazaar outlets in nine cities namely Ahmedabad, Bengaluru, Chandigarh, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai and Pune.
Smt. Manju Agarwal, Deputy Managing Director (Corporate Strategy and New Business), SBI announced a special cashback promotion offer, exclusive for its sbiINTOUCH Contactless Debit cardholders for a period of six months. Shoppers at Big Bazaar and Food Bazaar can now get a 10% cashback on minimum transaction value of INR 500, up to a maximum cashback of INR 500 per calendar month, when payment is made by just waving their sbiINTOUCH Contactless Debit Cards on NFC enabled PoS terminals, in these nine cities.
Sadashiv Nayak, CEO, Big Bazaar commented, “At Future Group we constantly keep evolving to provide a more convenient shopping environment to our customers. We like to adapt to newer technologies as quickly as our customers embrace them. We are excited to have SBI and Visa as partners to offer this next generation revolutionary and secure mode of payment at our stores. With their expertise and our reach coming together, we would provide a great shopping environment for our customers.”
According to Mr. T.R. Ramachandran, Group Country Manager, India and South Asia, Visa, “Visa payWave contactless cards encourage the replacement of cash in busy retail environments like supermarkets, convenience stores, quick service restaurants and fuel stations, etc. to create an easy and faster shopping experience for customers. We congratulate SBI on taking the initiative to promote contactless debit cards, which we believe, will lead to an increased demand and usage of contactless cards.”
Many developed countries like Singapore and Australia are already operating on a high cashless environment which is enabling greater transparency and efficiency. The announcement today enforces that India is transitioning to digital payments and the network of banks, merchants and payment networks in India are working together to realise the government’s vision for a cashless economy.
The Visa payWave enabled contactless cards ensure that transactions are secure, as the card never leaves the hands of the customer, thereby reducing the risk of card loss and fraud. It also reduces queuing time for customers as checkouts are faster.
Visa payWave is Visa’s contactless payment technology and can be found on Visa cards bearing the Visa payWave symbol. It enables cardholders to make faster payments in a convenient and secure manner. Visa payWave cards have an embedded antenna and microchip, enabling “contactless” communication with a reader at the checkout. From there, the transaction is processed through the same secure Visa network used for all Visa transactions. Cardholders simply wave their Visa payWave card over a secure reader to pay and go. As a global leader in payments technology, Visa continually innovates its product portfolio to enable its financial institution clients to offer consumers more payment choices. Contactless technology accelerates Visa’s mission of being the best way to pay and be paid by everyone.