Yes Bank Enables Seamless Transactions with RBI's Digital Rupee Through UPI Integration
Summary:
Yes Bank integrates the UPI with RBI's digital rupee, allowing account holders to make transactions by scanning UPI QR codes. This integration enhances usability for the digital rupee and offers seamless transaction capabilities. The digital rupee has seen success in retail programs and is accepted at selected Reliance Retail stores.
Yes Bank enables enhanced usability for RBI's digital rupee, thanks to integration with UPI. Yes Bank account holders can now make transactions using digital rupee by scanning UPI QR codes. The UPI, operated by NPCI, provides infrastructure for both UPI and digital rupee, serving 150 million merchants in India. Yes Bank's integration marks the first of its kind. According to Yes Bank executive, Ajay Rajan, this transformational enabler promises seamless and efficient transaction capabilities. Yes Bank was among the initial participating banks in the retail digital rupee pilot project, which saw significant success. The digital rupee is already accepted at selected Reliance Retail stores through a QR code program in collaboration with ICICI Bank, Kotak Mahindra Bank, and Innoviti Technologies.
Published At
9/1/2023 9:30:47 PM
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