Yono - Personal Banking

Yono

Launched on 16-03-2019, YONO Cash is a unique feature available in the YONO platform (both on the App as well as the online portal). It enables an account holder to withdraw money instantly from any of the SBI ATMs and most of SBIs Merchant POS terminals or Customer Service Points (CSPs) within India without using any physical card or filling up any physical withdrawal slip.

The YONO user simply needs to login to the YONO platform and use the YONO Cash feature to generate a reference number and create a dynamic PIN for the cash withdrawal. Customer can then use the same to complete the transaction and withdraw/obtain the cash from any of the channels i.e. ATM, POS terminal or CSP.

The solution is unique because of multiple reasons.

• It is Convenient: It enables customers to withdraw cash from ATMs, POS or CSPs even if they forget their wallets at home and only carrying their phone. The YONO Cash transactions are counted over and above the ATM withdrawal
• It is environment friendly: Total elimination of plastic cards
• It is Secure: Eliminates most of the risks associated with physical cards like no risk of shoulder surfing, no card trapping, no card skimming risk, no lost card/pin. The PIN is generated dynamically for every transaction.