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Samsung Pay available for SBI debit card holders

A select number of SBI debit card users can now use Samsung Pay, which means these card holders can make payments at PoS terminals without the use of a physical card. It is expected that some 130 million debit card holders of the bank will be able to make use of Samsung Pay. The payment facility can be used for cards enabled with magnetic secure transmission (MST) technology or near field communication (NFC) technology; most PoS machines in use in the country are enabled to accept payments through the MST mode. SBI said it is replacing some of its outstanding cards upgrading them to more secure chip-and-pin-based cards to comply with a RBI directive. Rajnish Kumar, MD (National Banking Group) at SBI, said if someone requests for a change of card out of turn, the bank will do it at no extra charge. Users of SBI credit cards have already joined Samsung Pay at the time of its launch in March. Samsung Pay will now also be available on the handset maker’s Galaxy J series of smartphones, thus extending the facility to its mid-range products.

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