State Bank of India ( SBI ) has launched the YONO app with new features. Through the YONO application, SBI has offered users of all banks to take advantage of the cardless cash facility. Through the YONO app, now bank customers will be able to scan and pay faster through UPI. Whereas, without entering PIN or without credit-debit card, you will be able to take advantage of the facility of cash withdrawal.
SBI has re-launched its digital banking application ‘YONO for Every Indian’ on Sunday by completely revising it. Through YONO (You Only Need One), bank customers will be able to get the facility of Unified Payments Interface facilities like scan and pay, payment through contact list, money request etc.
YONO has more than 60 million registered users since its inception in 2017. In FY23, 78.60 lakh savings accounts have been opened digitally through YONO in SBI. SBI said that the modern version of the YONO app will empower customers of other banks to embark on the YONO journey, thereby encouraging them to be a part of the ever-growing SBI family.
SBI also launched Interoperable Cardless Cash Withdrawal (ICCW) facilities which will be available to customers of SBI and other banks as well. Customers can withdraw cash from any Bank’s ICCW enabled ATM using ‘UPI QR Cash’.
Transaction will be done through single use QR code on ATM screen. Apart from this, users can easily withdraw cash through the scan and pay facility available on their UPI application. The ICCW facility mitigates risks such as shoulder surfing or card cloning by eliminating the need to enter the PIN or physically carry the debit card. Customers can avail instant cash withdrawal through secure digital channels.
