RBL Bank and Mastercard have partnered to launch a mobile-based consumer-friendly payment solution – the Pay by Bank App, a first-of-its-kind payment functionality in India.
As a part of this alliance, RBL Bank account holders will now be able to enjoy contactless transactions across the world through their mobile banking application both in-store and online. This feature will be available at all Mastercard accepting merchants, worldwide that practice contactless and online payments.
Surinder Chawla, Head – Branch Banking at RBL Bank, said “Our customers are looking to us to provide innovative solutions for easy digital payments that they can trust and rely on. We are happy to be the first movers in this space and launch this unique payment application with Mastercard which offers simple, speedy and secure payments, while also addressing payment challenges that merchants may face such as declines or fraud. It is aligned with our efforts in bringing contactless banking initiatives, eliminating the need for physical contact amidst these unprecedented times of COVID-19.”
“Underpinned by the security offered by Mastercard and the bank, ‘Pay by Bank App’ delivers a digital payment solution to meet the needs of consumers seeking online or touch-free payments and wanting to protect their credentials better” said Porush Singh, Division President, South Asia, Mastercard. “Contributing towards Government of India’s vision to fuel the growth of digital payments, it’s another example of how Mastercard’s technology is supporting customer banks by making transactions simpler, more seamless and safer.”