SBI Introduces UPI Payment for its Customers, Everything You Need to Know

05 Sep, 2023 Author: Ayushee Joshi

SBI New Service: The government is always trying to encourage digitization in the country, and now, the SBI has launched eRupee to promote the digital rupee. Customers can conduct transactions by scanning any merchant UPI QR code from September 4th, according to a statement issued by India’s largest bank SBI. The bank has announced the launch of a UPI interoperability service. Customers will be able to make online payments once this service is implemented.

How to Use SBI’s eRupee Service

The State Bank, which launched this service today, stated that this feature from the eRupee by SBI application would allow SBI CBDC users to effortlessly scan the UPI QR code of any retailer for fast and safe transactions. Customers can use the eRupee by SBI app to access this service. Users of this software can make direct payments using digital rupees by scanning the UPI QR code at any location or store. With banks integrating CBDC and UPI, digital money will increase among the public. This service has already been launched by HDFC Bank, Canara Bank, Axis Bank, and Yes Bank.