Punjab National Bank : While promoting UPI in one country after another, more and more facilities are being added to it. Due to which customers get a lot of facilities from gadgets at one place. Now Punjab National Bank (PNB) has also started a new service.
PNB has announced the inclusion of India’s Central Bank Digital Currency (CBDC) with Unified Payment Interface (UPI) interoperability in its Digital Rupee mobile application, according to a bank press release.
PNB customers can now make payments to their vendors using the UPI QR code scanned using the PNB Digital Rupee app, or use it to complete transactions at vendor outlets.
Users of the PNB Digital Rupee app can use their CBDC wallet to make purchases on the UPI QR at these merchants, even if they do not have a CBDC wallet. The app with this new feature is already available on Play Store for Android users and will soon go live for iOS users as well.
How will this work?
The digital rupee known as ‘eRupee’ is issued by the Reserve Bank of India as legal tender. It functions exactly like a sovereign currency and is interchangeable with paper currency at a 1:1 ratio. This electronic wallet will work just like your physical wallet on your device and will be linked to your bank account.
How to register/sign up for PNB Digital RuPay?
- Download PNB Digital Rupee App from Google Play Store.
- Select the SIM card with mobile number registered with PNB for SIM verification.
- Create your App PIN by clicking on Set App PIN.
- Select Wallet and click on Link PNB Account.
- Enter debit card details and complete the registration process.
- Once registered, you can start using PNB Digital Rupees.
