New Delhi, India – 23 December 2020: Comviva, the global leader in digital solutions and SBI Card, the
leading credit card issuer in India have recently won three prestigious awards – Payments & Cards
Award 2020, PayTech Award 2020 and InnTech Award 2020 for the ‘SBI Card Pay’ service. SBI Card and
Comviva were recognized as the winners in the ‘Best Payments Technology Initiative of the Year’
category at the Payments & Cards Awards 2020. The organizations were also accorded, ‘Best Cards
Initiative’ category at the PayTech Awards 2020 and ‘Best Implementation of Technology by a
Financial Sector Enterprise’, ‘Best Technology Provider/Vendor for Financial Technology (FinTech)
Services’ and ’Best Integration of Technology in a Banking/Payments/Mobile Wallet Interface or
Application’ categories at the InnTech Awards 2020. All the awards were announced at the virtual
award ceremonies.

The SBI Card Pay service enables customers to create a virtual card on their mobile phone for their
physical Visa or Mastercard SBI Credit Card. Thereafter, customers can make payments at merchants
simply by unlocking their mobile phone screen using fingerprints, the screen lock facility or an MPIN and
tapping the phone at a Near-Field-Communication (NFC) POS. This simple ‘tap and pay’ contactless
process has made card payments swifter, hygienic and more seamless for customers.

The service is powered by Comviva’s HCE Module from its mobiquity® Banking Suite, that leverages Host
Card Emulation (HCE) technology and tokenization to deliver swift, seamless, secure and convenient
contactless mobile payments to customers. Tokenization converts a customer’s card information into a
device-specific digital token. Hence, while executing a transaction, a digital token is shared and the
customer’s actual card information is masked, thus securing the transaction. In case the customer’s
mobile device is misplaced, details of the card remain secure, as it is stored as digital tokens.

Pleased with the award wins, Mr. Ashwini Kumar Tewari, Managing Director & CEO, SBI Card said,
“Driven by customer centricity, SBI Card has always been at the forefront of adopting latest technologies
that benefit customers. SBI Card Pay is one such service that leverages next-gen HCE technology,
allowing customers to create virtual version of their physical credit card on mobile phone and then tap
the mobile phone on merchant’s NFC POS to make the payments. This ‘tap and pay’ contactless payment
process is faster, secure and more convenient.”

Manoranjan ‘Mao’ Mohapatra, Chief Executive Officer at Comviva said, “We are honoured to receive
these awards. The awards validates and recognizes Comviva’s efforts in bringing consumer focused,
innovative and user friendly digital payment solutions to the market. Globally HCE and tokenization are
making card payments frictionless and secure and we believe that in India also they will redefine the card
payment experience. With the growing NFC POS infrastructure in India and mobile phones becoming de
facto wallets for consumers, we expect ‘tap and pay’ services like SBI Card Pay are the future of card
payments in India.”

Payments & Cards Awards 2020 are annual awards provided by Kamikaze, a premium B2B Media
enterprise in India. PayTech Awards are global awards incorporated by London headquartered Fintech
Futures, a popular digital publishing platform and knowledge hub for the worldwide fintech community.
InnTech Awards are organized by Inkspell Media, an avant-garde B2B Media enterprise in India. All
these awards celebrate and recognize the excellence and innovation in the technology, banking,
payment and financial industries.

Comviva’s mobiquity® Banking suite provides a comprehensive solution to banks and financial
institutions, to not only build, manage, optimize and deliver omni-channel banking experience, but also
continuously iterate and engage the consumers, through instant configuration capability,
personalization and experimentation engine. This platform empowers the banks to deliver a digital
hyper-personalized experience enhancing customer’s lifetime value. mobiquity® is a multi-token service
provider (TSP) solution that delivers agile and secure contactless payment experience to the customer,
by leveraging HCE and Tokenization. The solution is readily integrated and certified for use with Visa’s
VTS and Mastercard’s MDES solutions and provides support for any other TSP as well, using a single
proprietary SDK, across devices. Comviva has both Visa ITSP and TR-TSP certifications.

Note: mobiquity® is registered trademark in India only

About SBI Card
SBI Cards and Payment Services Limited (formerly known as SBI Cards and Payment Services Private
Limited) (“SBI Card”) is a non-banking financial company that offers extensive credit card portfolio to
individual cardholders and corporate clients which includes lifestyle, rewards, travel & fuel and banking
partnerships cards along with corporate cards covering all major cardholders’ segments in terms of
income profile and lifestyle. Presently, the brand has a wide customer base of over 11 million. It has
diversified customer acquisition network that enables to engage prospective customers across multiple
channels. SBI Card is a technology driven company.

P.S. The brand name of the company is ‘SBI Card’ and it is registered in the name of ‘SBI Cards and
Payment Services Limited’. The company is trading under the entity name ‘SBICARD’ on stock exchanges.



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