South Indian Bank has introduced Aadhar-based payment in its UPI mobile application – SIB M-Pay. Even non-customers of South Indian Bank can link any of their bank accounts with this mobile application. Currently, the fund transfer is possible only if the Virtual Address (UPI ID) of the beneficiary is known to the user. With the latest addition in SIB M-Pay, the fund transfers can be done by just entering the Aadhar number of the beneficiary. The amount will be credited directly to the beneficiary’s Aadhar linked bank account. SIB M-Pay app is currently available in Android Playstore.
