New Delhi: State Bank of India (SBI) has come up with United Payment Interface app for the customers. The information was given by the company on Thursday.
SBI has unveiled this app for SBI account holders to send and receive money from their smartphones with a virtual payment address that act as a unique identifier.
“With the current demonetisation drive of the government and the push towards digital or cashless payments, SBI Pay is expected to be a game changer in the digital payment ecosystem as the bank has the largest customer base in the country,” said Arundhati Bhattacharya, chairman of SBI.
The android phone users can download this app in their smartphones. For the iOS platform, the National Payments Corporation of India (NPCI) comes out with unique specifications.
NPCI has unveiled the UPI app on 25 August to help the users to use real-time sending and receiving feature through a mobile application.
With the SBI and HDFC Bank likewise going live on UPI, there are at present a sum of 30 banks which have UPI-empowered portable applications on Google Play Store.
"This meeting up of every single significant bet on UPI is a noteworthy support to bank-based computerized installments. In current times of money crunch, UPI can be a noteworthy shelter to empower even the littlest dealer to get advanced installments," said Rahul Gochhwal, prime supporter of Trupay, a budgetary application.
Trupay underpins UPI exchanges for all banks and helps vendors get and make a wide range of money related exchanges on UPI by utilizing a solitary application.