- By Vikas Yadav
- Mon, 03 Jul 2023 08:54 PM (IST)
- Source:JND
JE Technology Desk: State Bank of India (SBI) announced new features in its 'YONO for Every Indian' app on Sunday. The updates in the banking app include an Interoperable Cardless Cash Withdrawal (ICCW) facility, a convenient and cardless process to withdraw money from ATMs. The announcement was made on the occasion of 68th Bank Day, as per Mint.
With the new YONO app, customers can enjoy benefits such as Scan and Pay, Request money and Pay by contacts, among other features. As per the media release, the aim is to expand inclusive and customer-focused banking services to citizens. With the ICCW facility, customers of SBI (as well as other banks) can withdraw cash easily via ICCW-enabled ATMs using the 'UPI QR Cash' option.
"The transaction will be facilitated through a single-use dynamic QR code displayed on the ATM screen. Users can conveniently withdraw cash by employing the scan and pay feature available on their UPI application," the statement reads.
The transaction is facilitated via a single-use quick response code from the ATM display. A customer can withdraw money using the Scan and Pay option in the YONO app. Besides simplifying the process, as per SBI, the update enhances the security of bank users, as it circumvents the requirement to enter the ATM PIN or operate a debit card for a transaction. It helps reduce the risks such as card cloning and shoulder surfing.
The YONO app has garnered more than six crore users since its launch in 2017. With new features, the bank aims to expand its footprint towards other bank customers.
Dinesh Khara, Chairman of SBI, said, "The YONO app has been revamped, keeping in mind the expectations of our customers for a seamless and pleasant digital experience. This will further fulfill our goal of making the 'YONO for Every Indian' mission a reality."