SBI “YONO” will replace the debit cards soon.
SBI “YONO” will replace the  debit cards soon.

Do you remember those days when people don’t have knowledge regarding the debit/credit cards? They fill their pockets with cash and go everywhere but with the introduction of debit and credit card, they don’t need to carry a lot of cash. Most shops and businesses will accept your card, you can show them your card and you can pay your bill simply. No risk of theft of cash. So bank introduced the debit/credit cards. Nowadays debit cards also create an issue for them because of misplacing or to remember every card’s password. Now very soon SBI will present the solution of this problem. Read the article till last to know about the solution.

What is the replacement of Debit cards?

The roles of debit card are important but suppose if your wallet gets misplaced then it can create a big issue for you. State Bank of India has solution for you and I hope this technology will definitely boom in market. The SBI bank thinks in a digital way to make your transaction process simple. Most of the customers will soon to operate application called YONO when they get to know about it. I will explain in this blog about the application that how the app is ready to take place of debit cards.

What is YONO app? Why SBI wants their customer to use it?

Forget the card process, let me share the application called YONO app which is ready to stay in the place of debit and credit cards. The application is always helpful for their customers. With the help of this app you can book taxi, play bill of restaurants, electricity bill you can pay, transfer funds to anyone, online shopping and many more. Above I discuss about the debit cards and you use this card to withdraw money also. Now you are thinking, did apps have permission to withdraw money from ATM?  Yes, it can also withdraw money from ATMs. YONO stands for “You Only Need One” and the application is just for digital banking and services and the entire process can be done online only. You can understand with its name too. Now no need to carry cards anymore. SBI want their customer to use this service more and more and get aware of digital platforms.

What SBI, Chairman said about YONO application?

The SBI Chairman Rajnish Kumar revealed about the YONO application that “A customer can make a bill payment and also can do digital transactions by using the YONO cash feature. We are considering establishing close to 10 lakhs YONO Cash point in 18 months. Nearly 70,000 cash points have already been established”. He also said that “It is our wish to eliminate the debit cards and I am sure we can eliminate them”.

Purpose of SBI mobile application “YONO”.

The application YONO was launched in 24th Nov 2017. Idea of this app is good and innovative. SBI wants to promote digital payment system and also its motive is to eliminate the plastic cards. In next five years there will be very less users left who use debit cards to withdraw money and for shopping. As we need such an innovative idea in our life that can reduce our time and efforts’ so using the YONO application is the right option for all of us. Here the State Bank of India wants to reduce reliance on decades-old technology and they don’t want people to operate old methods now. I think it’s quite common but the fact is digital transaction is going on and its popularity is still alive. So using the YONO application can be more expedient option for everybody. Now it will also enable you to withdraw cash from ATMs.

Wants to know more about YONO app?

  • Chairman of SBI also speaks about the YONO app that it can change your life because he knows 90 crore debit card operates in the country. YONO application plays a significant role by ruling in every smartphone and makes our country less users of debit-card.
  • The SBI also highlight about this process that after the introduction of this application in the country, they roll out almost 68,000 YONO Cashpoint.
  • This is basically an ATM outlet which enables digital ATM transactions. Well, the idea is to make customers to operate digital payment more and never get too much depend on debit/credit cards.

Final words

One more big achievement by our country and here we especially give credit to SBI who understand their role and watch what audience need. I think application YONO can save your time and you will be more secure. This app will also be a helping hand of small businessman and farmers. YONO can make life easy and free from hassle. Now we will see whether customer changes their mind-set of using YONO app or still they feel satisfied to operate debit/credit card for their use.

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