This will allow SBI debit card holders to make payments using Samsung smartphones at Point of Sale (PoS) card machines at merchant outlets.
"Both Samsung and SBI are household names in India and it is a momentous occasion for us to collaborate on Samsung Pay and extend an innovative solution that is transforming people's lives worldwide," said Asim Warsi, Senior Vice President, Mobile Business, Samsung India.
SBI debit card users can also avail introductory cashback benefits up to Rs 500.
"We are committed to increasing the share of digital initiatives in products, services and transactions. Tie-up with Samsung Pay is one such initiative which will give our customers an additional reason to go digital," said Rajnish Kumar, MD, National Banking Group, SBI.
Samsung Pay uses Magnetic Secure Transmission (MST) technology, enabling consumers to make offline payments using Samsung smartphones without the need for a physical Card.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)