Highlights
digitization of merchant payments.
SBI plan to deploy low-cost acceptance infrastructure across India.
New Delhi: SBI Payments, the Subsidiary of State Bank of India (SBI), the country s largest bank is launching YONO Merchant App to expand the digitization of merchant payments in the country.
Aiming to enable millions of merchants through mobile led technology to accept digital payments, SBI plan to deploy low-cost acceptance infrastructure across India over the next two years targeting 20 million potential merchants across India in Retail and Enterprise segment. The launch is in line with RBI’s recent announcement of creating a Payments Infrastructure Development Fund (PIDF) to encourage acquirers to deploy Point of Sale (PoS) infrastructure (both physical and digital) in lesser penetrated areas of the country. Merchants will now be able to turn their NFC enabled Android smartphones into payment acceptance devices through a simple mobile app, an SBI statement
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SBI news alert: State Bank of India reveals big plans for merchants - All you need to know
SBI Payments has taken a major step in order to expand the digitisation of merchant payments in India by launching YONO Merchant App.
DNA Web Team
Feb 22, 2021, 10:41 AM IST
SBI Payments, which is a subsidiary of State Bank of India (SBI), has taken a major step in order to expand the digitisation of merchant payments in India by launching YONO Merchant App.
1/5 Aiming to enable millions of merchants through mobile led technology to accept digital payments, SBI has plan to deploy low-cost acceptance infrastructure across India over the next two years targeting 20 million potential merchants across India in Retail and Enterprise segment, an official statement said. The launch is in line with RBI’s recent announcement of creating a Payments Infrastructure Development Fund (PIDF) to encourage acquirers to deploy Point of Sale (PoS) infrastructure (both physical and digital
SBI Payments to launch YONO merchant app
Merchants will now be able to turn their NFC enabled Android smartphones into payment acceptance devices through a simple mobile app.
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| A+A A- By Express News Service
NEW DELHI: India’s largest lender, State Bank of India, will launch a YONO merchants app to enable 20 million merchants from tier 2, 3 cities to adopt digital payments.
The lender plans to deploy low-cost acceptance infrastructure across India over the next two years targeting the potential merchants across India in the Retail and Enterprise segment.
The initiative will enable near field communication (NFC) enabled smartphones of merchants to turn into Pointof- sale devices after downloading the app.
This is in line with RBI creating a Payments Infrastructure Development Fund (PIDF) to encourage acquirers to deploy PoS infrastructure in lesser penetrated areas of the country