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Cash Crunch: Yes Bank SIMsePAY Enables Cashless Transactions Without Smartphone or Internet
Yes Bank has launched SIMsePAY, which allows any account holder to do money transfers, pay utility bills and other mobile banking services, without the need for smartphones or the Internet. Going cashless is a challenge if you live in rural India or away from cities. The issues range from lack of data connectivity to lack of power charge to charge power-hungry smart phones. Now feature phones too can initiate transactions as well as can be the merchant POS, said Abhishek Saxena, Managing Director, Taisys India.
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