SBI UPI App: State Bank of India, which is the leading bank in India, launched the SBI UPI App. This UPI app is useful for various transactions and Online Payment. Here we will provide you complete details about SBI UPI App.
The Actual name of the SBI UPI App is SBI Pay App. The Bank has designed the amazing app for all the bank’s users and it believes in supporting the government’s initiative for Cashless Economy. For all the people, who don’t know what UPI is, UPI stands for Unified Payments Interface.
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SBI UPI App
Apart from SBI, there are 18 other banks which possess their own UPI App for transferring funds. However, there are more than 30 banks accepting UPI-based payments.
What is UPI?
UPI is basically a Payment system initiated by the National Payments Corporation of India and it’s basically organized by the Reserve Bank of India. UPI is made for the direct transfer of funds between the two banks.
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What is SBI Pay App?
SBI Pay app is not only meant for the SBI Bank Customers but also for the other bank Customers. Using the SBI Pay app, a user can send and receive money from his/her smartphone using the virtual payments address which acts as a Unique Identifier.
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Features of SBI Pay App
- In this app, both sender as well as a receiver and initiate the payment.
- Payments are usually made through the Mobile App.
- Currently, the app supports Peer to Peer transactions, while merchant transactions will be rolled out in the later versions.
- Currently, all the users will be able to make transactions using the Virtual address and Account Number, IFSC Code. In the later phase, payments using Aadhar card, MMID and Mobile Number will be rolled out.
- As per now, SBI Pay is available only for the Android users.
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Download the SBI UPI App
To Download the SBI Pay App, click on the link below:
How to register at SBI UPI App?
Follow the simple steps given below to register on SBI Pay app:
- First of all, open the SBI Pay app on your device.
- Now you will have to register for UPI app, in order to use its features. Here, SBI or Non-SBI Bank users can register for the UPI app.
Please note that your Mobile Number will act as a User ID and PIN to Login.
- In the next step, you have to create a VPA. The form of virtual payment address is uniqueid@sbi. Here you can select Unique ID as per your choice. SBI Pay app gives the freedom to the users to create as many numbers of Unique ID as you want for sending and receiving payments using UPI-based payments.
- After filling all the details with the UPI app. You have to register yourself whether you hold an account in SBI or any other bank. Please ensure that you mobile number linked with the bank is same as in UPI app.
- In order to transfer funds, you have to authenticate using the UPI PIN. SO you have to Generate MPIN for your account. Here you have to provide your Debit card details. MPIN will be required for transferring money.
- Thus, you have successfully registered your UPI Account.
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How to Transfer Money using SBI UPI app?
Follow the simple steps given below:
- Open the app, select the Pay Option.
- Now, you have to select your Account. Then enter payee virtual address, Payee name, Remarks (optional) and Transaction Amount.
- Lastly, click on Pay and your Amount will be transferred.
We hope that you got all the required Information about SBI UPI App.
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