State Bank of India has started an online marketplace which is being powered by Martjack Exchange, a company which creates digital commerce portals.
There is no clarity on when the store was launched as no official announcement was made about the same.
SBI’s portal offers products across categories of Clothing, Footwear, Mobiles and Tablets, Home and Living, Jewellery etc.
This e-commerce site only accepts SBI Debit Cards or Maestro Cards does not offer other payment options like of Cash on Delivery (CoD). Though SBI is the largest public sector bank in India, with a vast reach, running an e-commerce site exclusively for SBI card holders may turn out to be limitation in the long run especially when India’s e-commerce market is growing leaps and bounds- grew 88 per cent in 2013 and expected to reach $56 by 2023.
It is mentioned on the site that the products and services under this promotion have been brought to you exclusively as a benefit on your State Bank Debit MasterCard and State Bank Debit Maestro Card.
However, SBI is not the first bank to launch an e-commerce portal, HDFC Bank had also launched a similar portal in the past.
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