State Bank of India today launched its mobile wallet, State Bank Buddy, in partnership with IRCTC, a public sector undertaking of Railways and Aditya Birla Group's subsidiary brand, Madura Fashion & Lifestyle.
This facility can also be used by those who are not customers of SBI. Under this facility people who have Know Your Customer accounts have a transaction limit of Rs 1 lakh. For those who don't have a KYC account, the daily limit stands at Rs 10,000.
The service will extend to leading retail brands through their billing systems and a strong network of 3,45,000 point of sale (PoS) devices of State bank of India.
SBI chairman Arundhati Bhattacharya said that the facility will offer convenience to customers and cashless payments to reduce corruption.
Our idea is that we will bring to the fingertips of our customers and non-customers, products that will give them the convenience to do whatever they need to do wherever they are 24/7 into 365 and do it easily and do it simply.Arundhati Bhattacharya, Chairman, SBI
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