State Bank of India on November 23 launched “SBI Pay”, the UPI app of State Bank of India. “SBI Pay” is a payment solution not only for SBI account holders, but of all Banks who are part of UPI, to send and receive money from their smartphones with a virtual payment address acting as unique identifier. No additional details are required to be used other than the virtual payment address. Additional features like merchant payments and enhanced transaction limits will be added in due course.
Launching the App, Mrs. Arundhati Bhattacharya, Chairman of SBI said “With the current demonetisation drive of the Government and the push towards Digital/ 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”. The “SBI Pay” App is presently available on Android platform. The IOS version will be rolled out as and when NPCI, the owner of UPI system, comes out with the specification for IOS platform.