SBI UPI APP Download : SBI Enters Unified Payments Interface Arena With SBI Pay. State bank of india Finally Launches UPI Powered SBI Pay App, Even Non-SBI Customers Can Register.

State Bank of India, which is India’s largest bank having a customer base of 200 million and 5.2 million mobile banking customers, has finally launched their own UPI (Unified Payment Interface) based app: SBI Pay.

Latest News: SBI Service Charges applicable W.E.F. 01/04/2017

SBI has thus became 18th bank from India to have their own UPI app for payments and shopping; whereas there are 30 banks which are accepting UPI based payments.

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SBI launches UPI-based app

SBI Pay is a payment solution not only for SBI account holders, but for customers of all banks who are part of the UPI. India’s largest public sector bank State Bank of India has launched its Unified Payments Interface enabled app called “SBI Pay”.

The app is available only on Android platform as of now and allows users to pay or collect money from any phone number or bank account linked to any UPI app, SBI said in a media statement. The iOS version will be rolled out as and when the National Payments Corporation of India (NPCI) comes out with specifications for the iOS platform.

SBI UPI APP Download – Official UPI App SBI (State bank Of India) – SBI Pay

This term sounds like it’s heard for the first time. UPI – Unified Payment Interface. You can do an instant money transfer through mobile Apps. Well, you may think that sounds familiar as we have all done it before. With the UPI you can do these transactions on your mobile app without actually giving out your bank a/c details. With the SBI UPI app on its way as the SBI will soon take in the UPI platform for the app.  As of now there are 21 banks that opted for UPI app of NPCI, for more SBI UPI news visit here.

Also download: State bank buddy App

Even ICICI Bank existing apps viz ‘ICICI Mobile’ and ‘pockets’ integrated the UPI. There are other advantages too for using the Unified Payment Interface.  Apart from sending money or transferring money without using bank a/c details, you can also shop online without worrying about sharing your bank a/c details through the UPI app. Online shopping giants like Flipkart, Myntra and Jabong presently are working out this payment option facility of UPI. This may also appear online as a payment option within a few days. A total of 21 banks participated as the UPI App was launched on the 25th of August 2016.

Press Release for the launch of “SBI Pay”, UPI app of State Bank of India- 23-Nov-2016

SBI UPI Launch Date: State Bank of India today (23rd November 2016) launched “SBI Pay”, the UPI app of State Bank of India. “SBI Pay” is a payment solution not only for SBI account holders, but account holders of all Banks who are part of UPI, to send and receive money from their smartphones with a virtual payment address acting as unique identifier. No additional details are required to be used other than the Virtual payment address. Additional features like merchant payments and enhanced transaction limits will be added in due course.

Also Download: PhonePe UPI APP

Launching the App, Mrs. Arundhati Bhattacharya, Chairman of SBI said “With the current demonetisation drive of the Government and the push towards Digital/ Cashless payments, “SBI Pay” is expected to be a Game changer in the digital payment ecosystem as the Bank has the largest customer base in the country”.

The “SBI Pay” App is presently available on Android platform. The IOS version will be rolled out as and when NPCI, the owner of UPI system, comes out with the specification for IOS platform.

UPI on Existing SBI Apps

Though the SBI did not officially launch the UPI App, there would be another app on the same lines as UPI. SBI’s existing mobile apps like Buddy and Anywhere may integrate the UPI. Out of these two apps SBI Buddy is the mobile wallet that any a/c holder can utilize.  It is expected that this may have the UPI platform for the money transfer option. After the SBI UPI, the a/c holder will be able to create a VPA to transfer money without the bank a/c number.

Steps to Download Official SBI UPI App

There are two ways to download the State bank of india UPI App through Google Playstore and the other is trough the SBI website. However, for the second option, make sure your mobile has enough memory for the download. SBI UPI Application can also be downloaded from the Google Playstore. With banks first starting out the UPI App only for android users, they may start UPI / UPI based App for others like iOs and Windows.

SBI UPI APP DOWNLOAD

Make payments easier using Virtual Payment Address(VPA) Pay & collect in SBI Pay

  • Login at SBI UPI App

How to login at SBI UPI App?

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As usual after downloading and installing the SBI UPI App registration is must. Remember, other users too like ICICI bank ac holders too can register their bank a/c with SBI buddy as well as any other SBI UPI App.

With your mobile number acting as a user id you need a pin to login.

  • How to Create VPA (Virtual Payment Address)

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The VPA is an address replacing your bank account details though which you transfer money into your bank account.  To use the SBI UPI App it is a must to create VPA.

First, click on “Add a Bank Account.”

Select a VPA {it could be your name, mobile number or even a nick name. as it is only a user id name} before the given domain name eg:– @SBI.com

  • Bank Account Registration

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Once done with the VPA the next step is to register the bank account which may be SBI or other bank a/c.

NOTE:-  The mobile number registered with your bank a/c and the mobile number on which the UPI App is installed should be the same number. SBI UPI App verifies authenticity this way.

  • Generate MPIN

To generate the first time MPIN provide your debit card details and ATM pin. You need MPIN to transfer money to anyone.

  • How to Transfer Money Using SBI UPI APP

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Enter login PIN to open the UPI-based app

From the ‘send money’ option, select payee. Note:- the payee should be registered using his VPA or Bank account details.  Select the bank a/c. if payee has multiple bank a/c. finally, input the amount of money to be transferred. After submit, enter MPIN.

As mentioned earlier, apart from sending money you can also receive money by using the same UPI App.

  • How to Collect Money using SBI App

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Enter login PIN to open the UPI-based app

From the “receive money” option select the payer. Note:- the payer should be registered using his VPA or Bank account details. After the payer receives notification via UPI app, he/she must approve the payment at their end by entering the MPIN.

  • How to pay online with UPI app

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As this will be one of the upcoming payment options, for this kind of transaction, you might want to only provide your VPA. After receiving the product you have to approve the payment through “Receive money” UPI App facility like “Cash on Delivery”.

If you are facing any Problem, fell free to leave your comment below Reg : SBI UPI APP Download

So, why to have certain problems with cash, download and install SBI UPI app on your device and start using it today and stay cashless.

ChangeLog :

Current Version : 1.0

Updated : November 23, 2016

FAQ’s:

How can I download UPI App (Unified payment Interface) launched by RBI and National Payment Corporation of India?

HDFC UPI APP

Overview  : State Bank of India is India’s largest Bank with a network of over 16000 branches and five associate Banks having over 6500 branches spread across India. Bank also has presence in 36 countries across the globe. The Bank offers wide range of products and services to both Corporate and Retails Customers. The Bank also has one of the largest networks of 54000+ ATMs spread across geographical locations. The Bank has a strong network of 57000+ BC/CSPs to enable financial inclusion in rural India. Bank also provides services to its customers through alternate channels such as Internet Banking, Debit Cards, and Mobile Banking etc. To expand further reach, Bank is also forging ahead with cutting edge technologies and innovative new banking models.

Government of India announces Aadhaar payment app for digital payments for cashless transactions throughout india. As we know Modi Banned 1000 rs and 500 rs notes banned from November 8th, 2016. From that Day, All the Transactions digitized to eradicate black money.

Latest Update: Prime Minister Narendra Modi launched UPI-based digital payment app BHIM on 30th December 2016. The app is aimed at encouraging digital transactions and increase participation of people in Lucky Grahak Yojana (For retail consumers) and in Digi Dhan Vyapar Yojana (For small businesses). Official website: https://upi.npci.org.in.