YES Bank has launched a digital banking service, ‘SIMsePAY’, whereby any account holder can do money transfers, pay utility bills, and other mobile banking services without the need for a smartphone or Internet. The private sector bank has launched the service with the District Co-operative Bank, Dehradun, and plans to launch it across the country.

• SIMsePAY is a wafer-thin sticker that can be pasted on any type of SIM card (standard, micro or nano) of any telecom service provider.
• This sticker installs a SIM Tool Kit (STK)-based application which can be accessed by the customer on any mobile phone without the need for Internet connectivity.
• The bank, in a statement, said the sticker would be linked to a co-branded pre-paid wallet or a pre-paid card (which can be loaded up to Rs. 50,000) issued by it or the co-operative banks’ account by the consumer to perform transactions such as national electronic funds transfer/ immediate payment service based fund transfers, check balances and generate mini-statements, payments to merchants, bill payments, top-ups and recharges.
• SIMsePAY will cater to the large section of the Indian population who remain unbanked or underbanked due to lack of access to smartphones and mobile Internet. There are close to 650 million feature phones in use.
• The second phase will involve outreach to the target segment through the network of over 40,000 YES Bank banking correspondents pan-India.