After this update made in the YONO application, the difficulties of the fraudsters have increased considerably along with the ease of the customers. Regarding this, State Bank of India Chairman Dinesh Kumar Khara said that keeping in mind the expectations of our customers for a smooth and enjoyable digital experience, the YONO app has been redesigned.
New Delhi: State Bank of India (SBI) has launched Interoperable Cardless Cash Withdrawal (ICCW) facility, updating its advanced digital banking application YONO. With the new avatar of YONO, customers will now have access to UPI features like Scan & Pay, Pay by Contact and Request Money, according to a statement from India’s largest bank. With this, now SBI customers will be able to do cardless transactions from any bank’s ATM.
How will be the cardless transaction?
With the rollout of the interoperable cardless cash withdrawal facility, customers of SBI as well as other banks can seamlessly withdraw cash from ICCW-enabled ATMs of any bank using the UPI QR Cash functionality.
For this, the customer will be provided the facility of transaction through the dynamic QR code displayed on the ATM screen. According to SBI’s statement, users will also be able to withdraw cash conveniently using the scan and pay facility available on their UPI application.
Card cloning will be banned
After this update made in the YONO application, the difficulties of the fraudsters have increased considerably along with the ease of the customers. Now you do not need to carry physical ATM card to withdraw money. By eliminating the need to enter a PIN or physically handle the debit card, the ICCW facility will reduce the risks associated with shoulder surfing or card cloning.
Regarding this, Dinesh Kumar Khara, Chairman, State Bank of India said that keeping in mind the expectations of our customers for a smooth and enjoyable digital experience, the YONO app has been revamped. This will fulfill our goal of making YONO mission a reality for every Indian.
