Are you confused with Visa, Master, and Paywave card of State Bank of India? Don’t worry this will help you to get clarified the doubts and help you to get a good one.
Contents
SBI Global debit card is a chip-based card and can be used on PoS terminal via inserting the card into the terminal. You have to enter the PIN number for the successful transaction.
VISA = VISA is a financial services company(Visa Inc) that works in various countries. It is a card system originally acts as an agent that authorizes financial transactions activities to pass and allows your card to operate on any payment gateway or point of exchange terminal. It handles every conflict that may occur as a result of fraudulent financial transactions activities.
According to the year of 2009, it has 30 million traders in 170 countries.
| State Bank Global International Debit Card | Domestic | International | |
|---|---|---|---|
| Cash Limit at ATMs/ per day | Minimum | Rs. 500/- | Varies from ATM to ATM |
| Maximum | Rs. 40,000/- | Varies from country to country, subject to a maximum of foreign currency equivalent of Rs. 40,000/- | |
| Point of Sales (or) Online Transaction Limit/ per day | Minimum | No such limit | No such limit but subject to local regulations. |
| Maximum | Rs. 75,000/- | Varies from country to country, subject to a maximum of foreign currency equivalent of Rs. 75,000/- | |
Debit Cards are cards that debit your primary account with the Bank.
State Bank Global International Debit Card earns 1 FreedomRewardz point (Reward point) for every Rs. 200/- you shop, dine out, fill fuel, book travel or spend online.
Earn Bonus points on the first three purchase transactions using your State Bank Global International Debit Card as under:
- 50 Bonus FreedomRewardz points on first purchase transaction within completion of one calendar month of issuance.
- 50 additional Bonus FreedomRewardz points on second purchase transaction within completion of one calendar month of issuance.
- 100 Bonus FreedomRewardz points on third purchase transaction within completion of one calendar month of issuance.
If you continue using State Bank Global International Debit Card for at least 3 purchase transactions in a quarter, then you can double earning points for the quarter.
SBI Visa payWave utilizes NFC (Near Field Communication) technology for verification or authorization of the card. It can be used in a POS terminal that provides you an extra layer of security protection against potential hacking of information.
Paywave is Visa’s title for Near Field Communication either Contactless Cards. These Paywave cards do not require to be swiped or inserted alike traditional cards. Just tapped related to a metro card. You have to “wave” the card near the terminal and transaction can be with or without the PIN number.
If your purchase is for Rs. 2000 or less, then it does not require the PIN. Apart from this facility, all rules of SBI card transactions are applied to the card like
It consists 0f cash withdrawal minimum 100, maximum 40,000 in India. For abroad users, it varies from country to country. It depends on ATM as well.
PayPass is similar to Paywave.
PayPass is an NFC technology offered by Mastercard for contactless payments. It also uses NFC for payment on approved PoS terminals. In those terminals, you can wave the card near the machine and transactions will be done without PIN number if the transaction amount is less than 2000. If it more than 2000 rupees, then you have to enter your PIN for security reasons.
MasterCard is accepted at 28 million merchants in 210 countries.
So SBI has this contactless payment facility in both debit and credit cards.
Hope you get an idea about that cards offered by SBI. Choose the right card which suits your lifestyle.
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