SBI Payments to launch mobile POS solution

Monday 22 February 2021 09:17 CET | News

SBI Payments is launching the YONO merchant app to expand the digitisation of merchant payments in India.

To increase the usage of mobile technology, SBI is aiming to encourage merchants to accept digital payments. Over the next two years, SBI plans to deploy low-cost acceptance infrastructure across the country.

According to the press release, the launch is in line with RBI’s announcement of creating a Payments Infrastructure Development Fund to encourage acquirers to deploy POS infrastructure in an area with low card penetration. Following the launch, merchants will be able to turn their NFC-enabled Android smartphones into payment acceptance devices via a mobile app.

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Keywords: SBI Payments, SBI, India, Asia, YONO, soft POS, merchants, RBI, mobile payments
Categories: Payments & Commerce
Countries: India
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Payments & Commerce

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