New Delhi, Business Desk. In the Corona era most people are using digital payments. Actually, people are being advised not to move out of the houses to avoid Corona. Therefore, digital transactions remain a big support these days. Taking a step in this direction, Yes Bank in association with UDMA Technologies has launched Yuva Pay, a digital wallet app for smartphone and feature phone users. In this, bill payment can be done through Bharat Bill Pay and Unified Payments Interface (UPI). It is a digital wallet issued under minimum KYC rules.
Through this app you can pay bills like LPG, DTH, Municipal, House Tax, Mobile Bill, License Fee, Electricity, Windmill and Solar Park Fee, Building Fee and Billboard. Apart from this, fastag charges, school fees, insurance renewal and payments at retail outlets and EMI payments can also be made. Customers from Yuva Pay can also use account balance check, recharge or top up, fund transfer and as a banking app for reward platforms.
KYC process will have to be completed
Users who use feature phones will have to go to the nearest Young Friends Associate to complete the KYC process. The wallet will be activated after authentication is complete and its services can be availed through User Interactive Voice Response Services (IVRS).
On android play store
It can be downloaded from the play store. You can add money to this wallet. As per RBI guidelines, users have to complete the biometric-based KYC process within 24 months after their wallet is activated. In case of no internet connection, the payment request is converted to encrypted SMS and the transaction is completed in offline mode. If an internet connection is available, users can start using online services.