1.As the government doing its preparations to encourage cashless transactions in the country,Banks are also exploring ways to minimize cash transactions in the country.As part of it,Yes bank,the leading private sector bank in the country has come up with a unique way of transferring money and pay utility bills.
2.Yes bank has launched a digital banking service called SIMsePAY,where by an account holder can do money transfers,pay utility bills and other mobile banking services with out the need for a smartphone or internet.
3.The bank has launched this service with the District co-operative bank,Dehradun and plans to launch it across the country.
HOW IT WORKS?
SIMsePAY is a wafer thin sticker thath can be pasted on to any type of SIM card(standard,micro,nano) of any service provier.This sticker installs a SIM tool kit(STK) based application which can be accessed by the customer on any mobile phone with out the need for Internet connectivity.
SIMsePAY will cater to the larger section of Indian population who remained unbanked or underbanked due to lack of access to smartphones and mobile internet.
2.Yes bank has launched a digital banking service called SIMsePAY,where by an account holder can do money transfers,pay utility bills and other mobile banking services with out the need for a smartphone or internet.
HOW IT WORKS?
SIMsePAY is a wafer thin sticker thath can be pasted on to any type of SIM card(standard,micro,nano) of any service provier.This sticker installs a SIM tool kit(STK) based application which can be accessed by the customer on any mobile phone with out the need for Internet connectivity.
SIMsePAY will cater to the larger section of Indian population who remained unbanked or underbanked due to lack of access to smartphones and mobile internet.