What is SBI visa paywave debit card?
SBI = State Bank of India, India’s largest provider of Banking and Financial Services both in terms of footprint and market share. VISA = VISA is a financial services company that operates in multiple countries. It is a card scheme essentially it acts a middlemen that allows financial transactions to happen and for your card to work on any payment gateway or point of sale terminal. It also manages any disputes that may happen as a result of fraudulent financial transactions. Paywave = This is Visa’s name for Near Field Communication or Contactless Cards. These cards do not need to be swiped or inserted like traditional cards and can be just tapped akin to a metro card. You do not need to enter a PIN for upto Rs. 2000. The benefit of this is transactions as quick as tapping your metro card and entering the station. Debit Card = Debit Cards are cards that debit your primary account with the Bank. Often called ATM cards (though they need not be). Unlike credit cards, you can ha...