ICICI Bank has become the first institution worldwide to launch mVisa – a cardless and device-less solution in the mobile space.
The Bank has incorporated the solution in its Pockets app, which allows payments by scanning a static QR code and entering the amount.
The solution is interoperable. It means that a merchant who accepts mVisa of one bank will accept payments from any other bank that joins the network.
mVisa is developed by Visa International in India for the world.
According to report, State Bank of India, HDFC Bank and Axis Bank are also working on incorporating mVisa.
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