SBI introduces UPI interoperability in Digital Rupee
The Hindu
SBI implements UPI interoperability in Digital Rupee (₹) to enable swift, secure transactions. Seamless integration of CBDC with UPI marks a significant leap for the bank, enhancing acceptance and utilization of digital currencies. Integration a "game changer" for digital currency ecosystem.
The State Bank of India (SBI), the public sector lender said it had implemented Unified Payments Interface (UPI) interoperability in Digital Rupee (₹) also called as Central Bank Digital Currency (CBDC).
Also read: Explained: RBI’s digital currency plans
“This cutting-edge feature, accessible through the ‘eRupee by SBI’ application will empower SBI CBDC users to effortlessly scan any merchant UPI QR code for swift and secure transactions,” SBI said in a statement.
The seamless integration of CBDC with UPI marks a significant leap for the bank, enhancing the acceptance and utilisation of digital currencies in everyday transactions, the bank added.
“This integration will be a game changer for the digital currency ecosystem,” it further said.
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