India’s largest bank State Bank of India (SBI) announced on 30 November 2025 that the bank will completely discontinue the M-Cash service. From December 1, 2025, it will not be possible to send money through mCASH on the OnlineSBI platform and YONO Lite app. The bank has advised account holders to use secure digital payment means like UPI, IMPS, NEFT or RTGS to transfer money to any person or account.
What was mCASH service and how did it work?
mCASH was a money transfer facility of SBI through which you could send money only with the help of mobile number or email ID and an mPIN code. The receiver received a link or code, which he used to claim through the app or link. After making the claim, the money was transferred directly to his bank account.
Why was mCASH service discontinued?
SBI described mCASH as an old and less secure process. Now secure digital payment methods like UPI, IMPS, NEFT and RTGS are being used in large numbers in the country. These are fast, secure and reliable, hence the bank advised the account holders to use modern digital payment platforms by removing mCASH.
In what ways can people transact now?
Unified Payments Interface (UPI)
UPI has become India’s fastest and most reliable digital payment platform. In this, the beneficiary’s bank account number or IFSC code is not required. You can send money instantly with just your mobile number or UPI ID. It is used everywhere from street vendors to big hotels. For UPI you can use BHIM, Google Pay, PhonePe or SBI’s own BHIM SBI Pay / YONO app.
IMPS i.e. Immediate Payment Service
There is such a fast banking facility through which you can send money instantly at any time of the day or night, weekend or holiday. This is very useful when you have to transfer money to someone’s account immediately, because the money is immediately deducted from your account and deposited into the beneficiary’s account. SBI customers can easily use it through net banking or YONO app. For transaction, you only need the beneficiary’s account number, bank name, IFSC code and sometimes mobile number. This is why IMPS is considered the most reliable digital payment option for immediate needs.
Also read: India Population: When will India’s population stop increasing, how will it be stopped?
