City-News.In : Pune : YES BANK announced the launch of ‘Yuva Pay’, a unique digital wallet in partnership with UDMA Technologies to enable contactless payments. This collaboration is in line with YES BANK’s fast-track innovation efforts of enabling communities to experience the convenience of digital banking services – as the nation slowly begins to unlock after the COVID-19 lockdown. This innovation is a digital wallet issued under minimum KYC regulations, combined with bill payments via Bharat Bill Pay and Unified Payments Interface (UPI).
Through the app, utility bills like municipal, house, water tax, electricity, LPG, DTH, Mobile bill, license fees, Windmill & Solar park fees, building sanction fees and billboard taxes can be paid along with insurance renewal, fastag recharge, EMI payment, school fees and use at retail outlets. The first live program of the solution will be implemented by State Rural Development & Panchayat Raj Department, Karnataka and the first phase will cover 158 gram panchayats with 238 villages. Subsequently, this program will be rolled out to 6200 gram panchayats covering 12 million households across 29,000 villages in the second phase.