SBI launches customer-friendly digital initiative

Visakhapatnam: The State Bank of India on Wednesday launched the latest customer-friendly digital initiative of the bank MOPAD (Multi Option Payment Acceptance Device).

Under the initiative, the customer will be able to make payments through cards, Bharat QR, UPI and SBI Buddy (e-Wallet) on a PoS terminal. The initiative aims at providing digital convenience to customers and Ease of Doing Business for merchants at the same time. This product takes forward bank’s objective of ‘Cash ki Aadat Badlo’.

After all types of transactions, the customer gets a charge-slip as a proof of payment. This is not available for traditional Bharat QR, UPI, SBI Buddy transactions. The merchants get single MIS for all types of digital transactions helping them to have total control of the cash flows. 

It is expected that this multipurpose initiative will enhance the digital ecosystem and help the bank in driving the economy towards a cashless society, said Mani Palvesan, Chief General Manager, State Bank of India, Amaravati Circle, who launched the MOPAD at Lucky Shopping Mall in the city. 

MB Diwakar, DGM, all the regional managers and assistant general managers were present. SBI is also the largest acquirer in India with 6.23 lakh PoS terminals deployed. It has decided to rollout the facility on all PoS terminals in a phased manner.  This will result in economic digital transactions as the merchant need to deploy only one terminal, the officials claimed at the programme.