YES BANK Redefines Digital Excellence: Secures #1 Rank in UPI Payments, Solidifying Its Dominance in Digital Banking
On average, YBL processes ~1 in 3 Digital Payment transaction in India
August 2024 – YES BANK, India’s leading private sector bank, has once again cemented its position in the digital payments landscape by gaining the top spot in UPI payments. With a commanding market share of approximately 53.3% and an impeccable success rate of nearly 99.8%, YES BANK continues to be the top choice for millions of customers and merchants across the country. It processes ~1 in 3 digital payment transaction in India.
The Bank’s firm commitment to technological innovation and its robust API stack have been instrumental in driving this remarkable success. The bank’s Digital Lending Platform (DLP) 2.0 has made it easier than ever for small businesses to access finance. The scale that the Bank has achieved in the first quarter of FY2025 results in faster, safer and more convenient transactions for customers and merchants. Whether it is for online shopping, paying bills, or sending money to friends and family, YES BANK’s UPI platform ensures that the money is in safe hands.
To increase the accessibility, the Bank has introduced several innovative solutions that enhance its digital payment ecosystem. It launched the YES Pay Next mobile banking application, which is an advanced UPI payment solution that offers efficient transaction management by its user-friendly features, enhanced security protocols, and seamless payment solutions.
Additionally, the Bank introduced industry's first concept of UPI payments via RuPay Credit Cards, which allows customers to make UPI transactions using their credit cards. Since the launch, YES BANK has issued over 4 lakh UPI enabled credit cards and continues to ride this opportunity. Furthermore, UPI interoperability has been implemented on the RBI's CBDC app, making YES BANK one of the first Indian banks to integrate UPI with this application. These initiatives highlight the Bank's commitment to driving digital transformation and providing top-notch digital banking solutions.
YES BANK’s commitment to providing top-notch digital banking solutions is evident in every transaction. The bank continues to raise the bar for the industry and is dedicated to serving the evolving needs of its customers.
About YES BANK
YES BANK, a full-service commercial bank headquartered in Mumbai, offers a wide array of products, services, and digital solutions, catering to Retail, MSME, and Corporate clients. The Bank operates its Brokerage business through YES SECURITIES, a wholly-owned subsidiary of the Bank. The Bank has a pan-India presence including an International Banking Unit (IBU) at GIFT City, and a Representative Office in Abu Dhabi.
