State Bank of India (SBI) YONO app has finally launched the most awaited Unified Payments Interface (UPI) feature. SBI has fully revamped the mobile banking app and introduced a new version. The Yono app has received various new features that users can enjoy and make banking transactions easier.
Notably, YONO has over 6 Crore registered users since 2017. In FY23, 78.60 lakh savings accounts were opened digitally through YONO in SBI, as per the Economic Times.
Let’s check out what the upgraded version of YONO has in store for us.
New in the SBI YONO app
On the 68th Bank Day celebrations, SBI launched its upgraded version of the Yono mobile banking app where a few new features such as UPI scan and pay transaction and Interoperable Cardless Cash Withdrawal (ICCW) feature were introduced, as per The Hindu. The ICCW will enable users to withdraw cash seamlessly from SBI or other banks as well by using the ‘UPI QR Cash’ functionality.
“The transaction will be facilitated through a single-use dynamic QR code displayed on the ATM screen. Users can conveniently withdraw cash by employing the scan and pay feature available on their UPI application,” as per the statement.
Now users do not always have to carry a physical card or keep their ATM PIN handy all the time as they can easily withdraw cash just by scanning through their smartphones. Not only it will enhance the user experience but it will also minimize the risk of their card being stolen or cloned.
SBI took a big step in combining banking and technology, making it more digitally secure and user-friendly through this effort.
Dinesh Kumar Khara, Chairman, the State Bank of India, said, “The YONO app has been revamped, keeping in mind the expectations of our customers for a seamless and pleasant digital experience. This will further fulfill our goal of making the ‘YONO for Every Indian’ mission a reality.”
State Bank of India (SBI) YONO app has finally launched the most awaited Unified Payments Interface (UPI) feature. SBI has fully revamped the mobile banking app and introduced a new version. The Yono app has received various new features that users can enjoy and make banking transactions easier.
Notably, YONO has over 6 Crore registered users since 2017. In FY23, 78.60 lakh savings accounts were opened digitally through YONO in SBI, as per the Economic Times.
Let’s check out what the upgraded version of YONO has in store for us.
New in the SBI YONO app
On the 68th Bank Day celebrations, SBI launched its upgraded version of the Yono mobile banking app where a few new features such as UPI scan and pay transaction and Interoperable Cardless Cash Withdrawal (ICCW) feature were introduced, as per The Hindu. The ICCW will enable users to withdraw cash seamlessly from SBI or other banks as well by using the ‘UPI QR Cash’ functionality.
“The transaction will be facilitated through a single-use dynamic QR code displayed on the ATM screen. Users can conveniently withdraw cash by employing the scan and pay feature available on their UPI application,” as per the statement.
Now users do not always have to carry a physical card or keep their ATM PIN handy all the time as they can easily withdraw cash just by scanning through their smartphones. Not only it will enhance the user experience but it will also minimize the risk of their card being stolen or cloned.
SBI took a big step in combining banking and technology, making it more digitally secure and user-friendly through this effort.
Dinesh Kumar Khara, Chairman, the State Bank of India, said, “The YONO app has been revamped, keeping in mind the expectations of our customers for a seamless and pleasant digital experience. This will further fulfill our goal of making the ‘YONO for Every Indian’ mission a reality.”