SBI debuts payments aggregator SBIePay
Posted on: 15/Mar/2014 5:38:51 PM
India’s largest bank State Bank of India has launched a new payments solution targeting merchants called SBIePay.
Currently it offers real-time credit card, debit card, net banking and mobile payment transaction validation processes, with plans to roll out Electronic Bill Presentment and Payment platform (EBPP) and IVRS for making payment over phones.The service charges ar yet to be clarified.
It lists other banks such as State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore, United Bank of India and ING Vysya Bank, as partners.
The website currently lets you register as a merchant, but customer login has not been enabled yet.
The e-payment space in India has independent companies with the lion’s share enjoyed by HDFC, Citibank and ICICI. SBI’s entry into payment gateway business comes at a time when existing players are adding features such as wallets, marketplaces, logistics and marketing support on top of the payments services.
