This new service is a step towards our commitment to further enhance our mRUPEE capabilities that will help the customers transact and withdraw money without a bank account. This service would offer convenience to someone who does not have a Bank Account and hence not able to participate in the mainstream economy, thus robbing him of the benefits of financial services.

It will also resonate with a customer who has a Bank Account but is finding it unsafe to expose his credentials online at the same time presenting the evolved merchant ecosystem for the customer to transact. The minimum money value the PAY Smart card would hold is 200 rupees with the maximum value being 1 lakh rupees at any point in time.

“More than just the exciting technologies, these digital innovations are transforming our way of life. We at RBL Bank are very confident that this is the way ahead in transforming the society towards a cashless behavior.

Keeping in mind our focus on digital inclusion with everyone having access to technology, we have partnered with Tata Teleservices to offer this service to consumers wherein they can make payments via mRUPEE payment gateway service.  With  this we have further aims at delivering future ready infrastructure that not only meets today’s expectations, but those of tomorrow as well,” said Mr. Ritesh Pai, Senior Vice President and Head – Direct Banking Channels at RBL Bank said.

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