YES BANK on Thursday announced the launch of a mobile application, YES PAY EASY, enabling small-scale merchants such as traders, retailers, and professionals, to accept instant cashless payments from their customers. The app has been developed in collaboration with Mastercard and Worldline India.

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It offers features such as Bharat QR, Tap-On-Phone, and SMS Pay, allowing merchants to transact through various digital modes. It also allows for payment collection, instant sharing of digital charge slips, and generation of reconciliation statements. Additionally, merchants can track pending payments, send reminders using the Khata feature, and benefit from a simplified onboarding process.

The app is designed for any individual or sole proprietor with a valid business license, and happens to be an existing current or savings Account customer of YES BANK. The onboarding process has been kept simple through a Do-It-Yourself mode with intelligence-based guidance built into the app.

It supports eight languages and the rental cost for using the app is significantly lower than regular POS terminals.

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Benefits of the YES PAY EASY app:

1. The app facilitates the acceptance of payments through multiple digital modes like Bharat QR, Tap-On-Phone as well as SMS Pay.

2. Merchants can easily keep track of pending payments and generate reconciliation reports that gets sent to the customer’s registered email ID instantly.

3. Customers who hold a current or savings account with YES BANK along with a valid business license can transact using the app.

4. Merchants have the flexibility to undertake cash transactions and keep a record of the cash collected within the app.

5. Currently, the YES PAY EASY app is available in eight languages, namely English, Hindi, Marathi, Gujarati, Tamil, Kannada, Telugu and Bengali.

Commenting on the launch, Rajan Pental, Executive Director, YES BANK, said, "We have time and again introduced propositions that not just offer our customers a rewarding banking experience, but also fulfil the Government’s vision of Digital India. The launch of the YES PAY EASY app is yet another step in the same direction that will benefit merchants by providing them with a one stop solution for all their business-related requirements. Given the host of features and benefits that it offers, I do believe, the app will facilitate ease of doing business within the country."

Currently, the YES PAY EASY app is only available on smartphones powered with Android operating systems.

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