State Bank of India Yono provides you the benefit of money withdrawal from an ATM without using a debit card but soon you’ll be able to do the same from other banks too.
Recently, the Reserve Bank of India stated that soon customers will be able to withdraw money without a card. They can withdraw money through UPI ID. Card less transactions will help too.
minimise the fraudulent transaction as well as fraud related to cards which will be for the benefit of people at large.
Debit card or credit card fraud has become very common due to the increase in online payment for shopping (especially online). When you keep a card, there is a possibility that it can be stolen or lost. Many a time you don’t even notice it. It is pretty normal that we make payment online and generally we need a card only when we need cash. So, people often forget about cards and become victim
When we minimize the use of cards, card fraud will be minimised too.