The expansion of digital payments in the country seems to be happening even faster. At the same time, YONO Merchant App is going to be launched to provide low-cost digital payment infrastructure to SBI Payments, a subsidiary of the country's largest bank. The bank has released its information on Saturday.

SBI said in a statement that the Yono merchant app can promote the digitization of traders in the country. The bank said, "SBI's plan is to restore low-cost structure to make millions of merchants of the country eligible to accept mobile-based digital payments." Under this, two crore potential consumers will be targeted in the retail and undertaking segments across the country in the next two years. As per the information received, the bank also said that it will be helpful in expanding the infrastructure of digital payment in tier three and four cities including north-eastern cities.

YONO Merchant App is going to work as a soft POS (Point of Sale) solution. For which it has partnered with global payment technology giant Visa. SBI Chairman Dinesh Kumar Khara said, "It is a great pleasure to announce the launch of Yono Merchant App by SBI Payments. The bank has launched the YONO platform 3 years ago. YONO has 35.8 million registered users. Yono Merchant is an extension of this platform."

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