The famous bank, YES bank has recently introduced their digital wallet solution app called Yuva pay in a partnership with UDMA technologies for enabling the contact less payments for their loyal customers.
In this app, minimum KYC regulation is required and it offers bill payments to be done through bharat bill pay and UPI facilities.
By using the app, users can pay all different bills and EMI easily through their homes only.
The Chief operating officer, Anita Pai told- “The program also aims to make the low income groups transition to digital and contactless transactions by enabling wider access to secure electronic payment services,”
the app Yuva pay will also double as a banking app for transferring funds to one account to other and to check the account balance.
The bank said- Smartphone users will need to complete a biometric based KYC process within 24 months after wallet activation to start using the services online. While for feature phone users, customers will have to visit the nearest ‘Yuva Mitra’ associate to complete the minimum or full KYC verification process,