On 15th April 2021 RBL Bank announced its partnership with Mastercard to provide first of its kind payment solution in India through the Pay by bank app. It iis a mobile based consumer friendly payment solution.
i.Through this payment solution – the Pay by Bank app , customers of RBL bank will be able to do contactless transactions both in store and online across the world.
ii.Also this facility makes sure that all the payment credentials of the Bank’s customers are completely secured and are never exposed to the merchant.
iii.Since account holders use their mobile app for making payments and so there is an increased volume of contactless transactions , merchants will be more benefited.
iv.Also there will be increased approval rates as each transactions are authenciated by the account holders.
v.This facility can be availed with any merchant who accepts mastercard and also allows contactless online payments worldwide.
About RBL Bank:
Incorporated in :1943 under the Indian Companies Act,1913.
Managing Director(MD) and Chief Executive Officer (CEO) : Vishwavir ahuja
Tagline: Apno ka Bank.
The bank’s name was changed from “The Ratnakar Bank Limited” to “RBL Bank Limited” in August 2014.
Executive Chairman: Ajay Banga
Chief Executive Officer(CEO): Michael Miebach
Headquarters: New York, USA