State Bank of India revamps e-commerce payments gateway
State Bank of India (SBI) has deployed the “largest payment gateway for cards’ e-commerce transactions”, according to Shiv Kumar Bhasin, CTO of the SBI group.
It processes ten million transactions per day, with 2,000 transactions per second (TPS) of peak load processing capabilities.
This “beats the business volumes processing capabilities of a lot of leading international card scheme providers’ payment gateways,” Bhasin says in a LinkedIn post.
Furthermore, “it is the only payment gateway of a bank [owned by a public sector bank] in the Indian financial services industry which is PCI-DSS compliant,” he states.
He describes the project as a “transformation milestone” for SBI in “processing and promoting digital payments/transactions of digital citizens of digital India”.
Recently, SBI has undergone a major trade finance tech overhaul. The bank has centralised its trade finance operations across 25 countries on Misys’ Fusionbanking Trade Innovation platform.
It is also planning to launch a standalone digital bank, SBI Digi Bank.