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SBI Payments to launch YONO Merchant App
SBI Payments, a subsidiary of India s largest lender State Bank of India, will launch YONO Merchant App to provide low-cost digital payments infrastructure to merchants, the bank said on Saturday. YONO Merchant App will expand digitization of merchant payments in the country, SBI said in a release. Aiming to enable millions of merchants through mobile-led technology to accept digital payments, SBI plan to deploy low-cost acceptance infrastructure across India over the next two years targeting 20 million potential merchants across India in retail and enterprise segment.
This will help boost digital payments acceptance infrastructure in tier 3, 4 as well as north eastern cities.