SBI YONO App and ATM Card: State Bank of India (SBI) has given away the pair. A more advanced YONO app has been launched. Also, in the case of ATM cards, such technology has been introduced to prevent fraud. Can be cloned.
The new YONO app (You Only Need One) is only by the State Bank of India (SBI). From now on, SBI customers will get various facilities of ‘Unified Payments Interface’ or UPI like sending money by scanning through the YONO app, sending money through phone contacts, and asking for money from someone else.
Along with this, the ‘Integral Cardless Cash Withdrawal’ service has also been introduced. A service through which SBI and other bank customers can withdraw money from any ATM of any bank using ‘UPI QR Cash’ (Must have ‘Integral Cardless Cash Withdrawal’ service).
India’s largest state-owned bank launched a more advanced YONO app on SBI’s 68th Bank Day on Sunday. Since its launch in 2017, the number of registered users on the YONO app has crossed 60 million. 78.6 lakh savings accounts were opened through YONO in FY 2022-23 alone (SBI YONO App and ATM Card).
In that situation,
a notification from SBI on a special day on Sunday said that the launch of the improved version of the YONO app will allow customers of other banks to start their journey in the YONO world. India’s largest state-owned bank said that they will be encouraged to join the SBI family.
Along with the new-style YONO app,
SBI has also launched the ‘Integral Cardless Cash Withdrawal’ service. How will that technology work? According to SBI, the transaction will be done through the single-use QR Code that will be displayed on the screen of the ATM. Customers can withdraw money from ATMs using the ‘Scan and App’ feature of their UPI app.
According to India’s largest state-owned bank,
the service eliminates the need to enter a PIN or carry a debit card while withdrawing money from an ATM. Using a debit card at an ATM does not have the risk of being cloned. As a result, fraud will be rampant. SBI has informed us that money can be withdrawn from ATMs without any hassle.