SBI and National Payments Corporation of India (NPCI) have recently join hands to launch a dedicated campaign to focus on deepening the reach of UPI transactions across all sections of the population. This joint initiative is aimed at encouraging users of SBI’s banking and lifestyle platform YONO to opt for UPI payments which is easy, safe and instantaneous.
Ravindra Pandey, DMD (Strategy & Chief Digital Officer), SBI, stated, “In this FY, the YONO platform recorded 5.30 million transactions worth Rs. 2086 crore. UPI is currently one of the most preferred digital payment modes in India with more than 207 banks linked to it. The SBI was leading the segment by processing about 664.75 million transactions, as of January, 2021.”
Praveena Rai, COO, NPCI, said, “We are pleased to partner with SBI to strengthen the digital payments ecosystem by promoting UPI awareness among YONO users. Customers just need to know their UPI ID and use it so they can enjoy the convenience of making or receiving payment from their YONO app to any other bank or payment app.”