YES BANK Launches SIMsePAY Unique Innovation Which Empower all Citizens to Broad Base Digital Banking - Press ReleaseIn an effort to facilitate digital financial inclusion, YES BANK has launched YES SIMsePAY - a first of its kind 'frugal innovation' that empowers users to make secure mobile payments using any mobile phone, across any telecom network, with the help of a water-thin sticker that may be pasted on any type of SIM card.
Works without internet connectivity through encrypted SMS
Caters to the unbanked or under banked with lack of access to smart phones and mobile internet (close to 650 million feature phones)
Is being offered to customers in nine states in collaboration with 38 Co-operative Banks to ensure widespread reach across India
We plan to launch it across the 29 states and 7 UTs in the next 12 months