Banks are embracing digital technologies & social media to cater to the Gen Y generation. Recently Kotak Mahindra bank launched Kotak social banking where one can open an account through Facebook & also conduct future transactions using twitter. Now SBI has launched SBI INTOUCH, which are digital branches, located in Mumbai, Kolkata, Chennai, bangalore & other cities. SBI in association with Accenture has launched these branches. Right from opening an account, debit cards, loans, MF’s & other banking services are available. These branches will function from 10 a.m. to 10 p.m., 7 days a week. The New Delhi branch was recently inaugurated by FM Arun Jaitley.
State Bank of India, India’s largest bank, has launched SBIePay, an online payment gateway facilitating e-commerce/m-commerce transactions for merchants, customers & others. Some of the top features of the sevice are Merchant can add various channels to allow their customers to transact − Kiosk, ATM, IVR, e-Commerce, Mobile, Aadhar, POS, etc, add products/segments on daily basis and in a dynamic nature & others. Indian online payment gateway has been dominated by billdesk & ccavenue.
SBI being the largest bank & with a variety of financial products & services is sure to shake up the Indian payment gateway market. SBI’s brand is respected and trusted all over the country. SBIePay wants to be the one stop solution for processing all online payment modes from all bank accounts.