New Delhi: SBI Payments, a subsidiary of India's largest lender State Bank of India, will launch YONO Merchant App to provide low-cost digital payments
Read more about SBI Payments to launch YONO Merchant app for low-cost payments on Business Standard. SBI Payments is a subsidiary of India s largest lender State Bank of India
Updated Feb 20, 2021 | 15:52 IST
Merchants will now be able to turn their NFC-enabled Android smartphones into payment acceptance devices through a simple mobile app SBI Payments introduces YONO merchant app to expand digitization of payments | Photo Credit: IANS
New Delhi: The State Bank of India s subsidiary, 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 the 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 abl
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SBI Payments to launch YONO Merchant App
SBI Payments, a subsidiary of India s largest lender State Bank of India, will launch YONO Merchant App to provide low-cost digital payments infrastructure to merchants, the bank said on Saturday. YONO Merchant App will expand digitization of merchant payments in the country, SBI said in a release. 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.
This will help boost digital payments acceptance infrastructure in tier 3, 4 as well as north eastern cities.
Lending major State Bank of India s subsidiary SBI Payments on Saturday said it plans to deploy low-cost acceptance infrastructure to expand the digitisation of merchant payments in the country.Accordingly, the company is launching YONO .