RBL Bank Partners Mastercard to launch "Pay by Bank App"

Current GK ( Master) Banking Awareness

The Mumbai-based private lender RBL bank has partnered with Mastercard to launch a mobile app called “Pay by Bank App “.
The Pay by Bank App is a first-of-its-kind mobile-based customer-friendly payment solution, launched to suit the growing demand for digital, contactless payments to ensure social distancing norms amid the ongoing COVID-19 pandemic.
Using the new payment solution, the RBL Bank customers will be able to make contactless transactions across the globe, both online and in-store, at all Mastercard accepting merchants across the world.
The new payment solution will also allow customers to make bill payments and personal payments through the mobile banking application.
The app also ensures that the customer’s credentials are never revealed to the merchant.