1 Step Towards Modi Mission - SBI Launches UPI Powered SBI Pay App - Cash Less India


1 Step Towards Modi Mission - Cash Less India - SBI Launches UPI Powered SBI Pay App.

We all Indians know that on 8th Nov Modi banned 500 & 1000 notes in all over India to fight against black money India. After demonetization of 500 & 1000 notes India in recent Mann ki Baat Indian Prime Minister Narendra Modi appeals India to go for Cash Less to make Digital India. That means Prime Minister of India appeals Indian citizen to use plastic & digital money instead of real money.

Govt is Making all efforts to transform the lives of Citizens Digitally:-

Before starting the main topic of SBI UPI based android mobile app, I want introduce what is UPI (Unified Payment Interface) & How it works.

What is UPI?:-

"Unified Payment Interface" (UPI) enables all bank account holders to send and receive money from their smartphones without the need to enter bank account information or net banking userid/ password.

How can I use UPI?

Users can instantly download a UPI app such as iMobile (for ICICI Bank customer) and Pockets (for ICICI/ non-ICICI Bank customers) and create their own Virtual Payment Address (VPA) such as xyz@pockets or xyz@icici to start using UPI.

Where can UPI be used?

UPI can be used to send and receive money from individuals or to pay directly to merchants.

What is a Virtual Payment Address (VPA)?

For using UPI, users need to create a Virtual Payment Address (VPA) of their choice and link it to any bank account. The VPA acts as their financial address and users need not remember beneficiary account number, IFSC codes or net banking user id/password for sending or receiving money.
Here is the video from Technical Guruji to understand more about UPI.

Flipkart - The biggest ecommerce retailer of India already introduces UPI Based Mobile Payment app Powerd by Yes Bank. By using Phonepe you can do cash less transaction within a min. Read here how phonepe works.

Now to SBI (State Bank of India) also giving power to Modi;s dream Digitalization of India.

State Bank of India, which is India’s largest bank having a customer base of 200 million and 5.2 million mobile banking customers, has finally launched their own UPI (Unified Payment Interface) based app: SBI Pay.

SBI has thus became 18th bank in India to have their own UPI app for payments and shopping & not only SBI but also there are 30 other banks in India also accepting UPI based payments.

Not only SBI but also many other big banks like HDFC, ICICI, Axis and 15 other banks have already launched their own UPI based apps to make India Digital & all the UPI based apps are helping people to do cash less transaction & also any one can shop online through this mobile apps.

In this current scenario SBI Pay is expected to be a game changer in the digital payment ecosystem as SBI bank has the largest customer base in the country. But as of now SBI UPI system app SBI Pay is available in android system.

Here is a list of all banks which have launched their UPI based apps:
  1. Karnataka Bank
  2. Federal Bank
  3. South Indian Bank
  4. Punjab National Bank
  5. Union Bank
  6. DCB Bank
  7. Canara Bank
  8. Bank of Maharashtra
  9. Catholic Syrian Bank
  10. ICICI Bank
  11. United Bank
  12. OBC
  13. UCO Bank
  14. HDFC Bank
  15. Vijaya Bank
  16. Andhra Bank
  17. Axis Bank

Benefits of SBI Pay android mobile app:-

As UPI is platform independent, even non-SBI users can download SBI Pay, and start using it to send or receive money from other UPI users. The main benefit is you don't have to add identifiers / beneficiaries to send & receive payments / Money. Only a virtual payment address is required to do all the process. Virtual Payment address will attach with your phone number and bank account.

Realted article You should read:- Phonepe - India's First UPI Based Mobile Payment app by Flipkart Powerd by Yes Bank.

Points need to fix to give more power to this SBI Pay app:-

1) The version which went live doesn’t support payments for merchants.
2) After release of the app in Google Play store, Indian's started using this official SBI Pay app & some complained to bugs and unfriendly UI of the app also noticed after using this app.
3) Users also complains that in case SIM 1 is not active on your smartphone, then the app cannot be activated because SBI Pay uses only SIM 1 to send the verification text, and if the text is not send the any one can not activate the app.
4) Users also complained that they were unable to locate change SIM 1 to SIM 2 for sending verification text. But after noticing this complain SBI takes some action. After that users confirmed that this bug was fixed, and now they can choose the SIM to be used for sending verification messages.

5)  As of now you can not store money in app wallet like Paytm or Freecharge. When you will do any transaction, money will directly debited from the attached bank account.

You can directly download the app right from Google Play Store.

Related article you should read:- Paytm Introduces Hassel Free Cash Less Transaction in India - Digital India Initiative by PM NAMO.

Here users also searching below terms to know about SBI Pay (UPI based Mobile App)
 This website www.CashLessBharat.in is created to support Cash Less India Initiative by Indian Prime Minister Mr.Narendra Modi. We are here in the edge of Digitalisation of India. If you want to know more about How Digitalisation can make your life simple then do subscribe us with your email id. Whenever we publish any article on Digitalisation of India / Cash Less India - it will directly deliver to your email address automatically.

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