State Bank of India (SBI) is taking Yono — its flagship digital offering — to the merchant community.
The SBI on Saturday said its subsidiary SBI Payments will launch the Yono Merchant app to expand the digitisation of merchant payments in the country.
It is targeting around two crore merchants across the country in both the retail and enterprise segments over the next two years.
SBI plans to achieve this by enabling several merchants through mobile-led technology to accept digital payments and deploy low-cost acceptance infrastructure.
“The Yono platform now has 35.8 million registered users. In the next 2-3 years, we aim to digitise millions of merchants by upgrading their mobile phones to PoS devices, helping them access value-added services such as loyalty, GST invoicing, inventory management and connecting to an interface to avail other banking products,” SBI chairman Dinesh Kumar Khara said.