In an effort to reduce cash-handling and streamline commuter transactions, Mumbai-based State Bank of India Ltd on July 6 introduced a contactless dual-function smart card developed in association with the Bangalore Metro Rail Corporation Ltd.
The SBI-Debit-Cum-Transit card, available to Bank of India accountholders, is both a debit card and a prepaid card. The card is designed to be used at retail, ATM and bank-branch locations, as well as mass-transit turnstiles for the city of Bengaluru’s under-construction mass urban transport train system, the Namma Metro, a spokesperson for the corporation tells PaymentsSource.
“The card has an e-purse that can be reloaded at any of the bank’s banking channels like ATM, mobile and Internet banking, and cash deposits,” the spokesperson says.
Cardholders may tap the SBI-Debit-Cum-Transit card on the turnstiles, to access the mass transit.
The corporation also recently announced the launch of a standalone contactless smart card that was developed by Korea-based Samsung-SDS Ltd. and the government-owned Rail Nirman Corp. (
