And Indian Navy launched on monday State Bank Of India‘s nav-ecash Card onboard the country’s largest naval aircraft carrier INS Vikramaditya. The bank said in a release that the card will address the difficulties faced by the personnel in handling physical cash during the ship’s deployment at sea.
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Naval ships’ infrastructure precludes traditional payment solutions, especially when the ship is in the high seas with no connectivity.
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The NAV-eCash card, with its dual chip technology, will facilitate both online and offline transactions, the release said.
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Bank Managing Director (Retail & Digital Banking) CS Setty This concept will be replicated in other naval ships and various defense establishments to create a secure, convenient and sustainable payment ecosystem.