SBI mVisa New Mobile based payment solution

3 mins read

Human beings are destined to enjoy the most lavish and elegant treatment with the help of advanced technologies. With the advancement of new technologies, we came up with new ideas to make our life simple. SBI is committed to providing its customers with new, enhanced facilities.

In order to fulfill the requirement of its customers, SBI has come up with a new facility of mVisa. It is an extremely simple, faster, innovative as well as a secure method to make cashless and cardless transactions just by using mobile. It provides an opportunity for SBI customers to make the payment on the move. Being exclusively new facilities, people are mostly unaware of mVisa’s uses and benefits. To assist you in working well with mVisa, we have mentioned all the useful points.

The first thing you need to know is how it works. It is a facility available only for those SBI customers who have either debit card or internet banking facilities. mVisa basically works on a QR code technology. You just have to scan the QR code available at the merchant outlet in order to make the payment. The QR code already consists of all the necessary information like the name of the merchant, IFSC code, and the account number associated. Whatever money you will pay will automatically get transmitted to the account number associated with the QR code.

SBI mVisa New Mobile based payment solution

To enable this facility, you need to register yourself via mVisa registration.

1. To get the registration done, you need to download SBI Anywhere app from Google Play store, and if it is already downloaded on your phone, update it.

2. On opening the app, you will find “mVisa” icon there. You are required to click that icon, and then it will take you to a new window where you will be asked to choose one among “Internet Banking User” and “Debit Card User.”

3. After selecting one of them, you will be asked to enter the username and password. Only after providing the required information, you have to tap the “Login” button.

4. The window displayed will verify yourself to be first time user, and then you just need to follow the given instruction to avail of this wonderful facility.

How to use mVisa facility for Payments

1. On registering once, from next time, you just need to log in to mVisa using your given credentials to access your account.

2. After opening your mVisa account, you will be required to find the mVisa dashboard there, which displays some basic information, account-related information, and a mini statement relating to all transactions.

3. On the page which will appear just after login, try to find the “pay mVisa” link present on the bottom of the display window.

4. After selecting the link, make whatever payment you want to make by scanning merchant QR code using your mobile camera, or you can manually enter all the merchant’s details available.

5. Once you have entered the detail, you just need to input the amount to be paid and at last, click on the “pay” button.

6. After you click the “pay” button, the merchant will be paid instantly with the required payment to be done, and after paying off, the payment message will be displayed on your phone as well as the merchant’s phone along with reference number.

SBI mVisa offers lots of benefits like:
  • It provides you with the opportunity to send funds and pay bills easily to other users.
  • The payment made through this mode is more safe and secure.
  • It reduces the effort to remember and enter a PIN or any other credential at POS.
  • You don’t need to carry a debit card anywhere or swipe plastic cards on any physical POS terminal.
  • There is no tension related to fraud or losing your cards.
Limitations of SBI mVisa:
  1. The first limitation of mVisa is region limitation; at this extent of time, it is available to be used only in Bangalore.
  2. This service is only available for Android-based smartphones and can’t be used on any other phone.
  3. A maximum transaction that can be made per day using mVisa is INR 50,000.

Don’t wait anymore, and get ready to enjoy this exclusive peerless feature with SBI mVisa. It will be a transformation for SBI users to enable them to have cashless, as well as a cardless lifestyle.

Sushma Singh

Sushma is a financial expert and online entrepreneur. With years of experience in personal finance and business management, she is dedicated to empowering individuals to take control of their finances and make smart investment decisions. Through Moneymint's website, she provides insightful tips, strategies and resources to help individuals grow their wealth and achieve financial stability. Join Sushma on the journey to financial freedom today!

Latest from Blog