SBI Enters Mobile Wallet Space With ‘SBI Buddy’
The State Bank of India (SBI), the country’s largest lender, entered the mobile wallet business with the launch of SBI Buddy mobile application, in a move to strengthen its digital initiatives. This initiative, SBI chairman Arundhati Bhattacharya, said was part of the bank’s move to become “the banker to digital India”. “This is one more step in our ambition of becoming the provider-of-choice for customers’ everyday needs, both financial and non-financial. Mobile is going to be at the centre of this transformation and this application will help us strengthen our proposition through this medium,” she told where Finance Minister Arun Jaitley launched the application. SBI Buddy is bank-, telecom- and smartphone-agnostic, which means that people can transact using the app whether or not they are SBI customers or are credit card users.