SBI Launches SBI Pay UPI App Even Non-SBI Customers Can Register

SBI Pay App : State Bank of India (SBI), the country’s largest public sector lender, has unveiled its United Payment Interface (UPI) app ‘SBI Pay’. SBI Pay is a payment solution not only for SBI account holders, but for customers of all banks who are part of the UPI. The app is available for Android users.The SBI Pay app will help to send and receive money from their smartphones with a virtual payment address acting as a unique identifier. No additional details are required to use the app other than the virtual payment address.

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 from India to have their own UPI app for payments and shopping; whereas there are 30 banks which are accepting UPI based payments. After PM Modi announced currency ban two weeks earlier, analysts were expecting SBI’s UPI app to be launched as soon as possible. Considering that cashless push is a major objective for demonetization, 

SBI should have launched their app earlier. One-fourth of all bank customers from India are on SBI’s platform right now. HDFC Bank, ICICI Bank, Axis Bank and 15 other banks have already launched their own UPI based apps. Arundhati Bhattacharya, chairman of SBI said, “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,” Interestingly, NPCI (National Payments Council of India) hasn’t yet come out with specifications regarding UPI platform for iOS, because of which, SBI hasn’t yet launched iOS version of the app. The SBI Pay App Only Android version is available as of now.