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YES BANK has commenced first of its kind Unified Payments Interface (UPI) services by partnering with 50 businesses, to catalyse one of the biggest payment innovations in the banking universe with an aim to make fund transfer easier and move towards a cashless economy. The UPI framework will enable low cost, high volume, electronic payments straight from the user's SmartPhone, and will make transactions instant, secure and interoperable.
Launched by the National Payments Corporation of India with the Reserve Bank of India (RBI), UPI is set to revolutionize digital banking, thereby enabling hassle-free payments. YES BANK has been one of the pioneers of digital and mobile banking and next-generation payments system (UPI).
Through its partnership with Phonepe, the Bank aims to replace Cash on Delivery (CoD) with digital payments for Flipkart, Myntra and Jabong.
YES BANK has also enabled granular merchant...