The BRICS TimesSBI Discontinues mCASH Facility, a Legacy Way to Transfer Money. Now Use Secure and Modern Digital Payment Options like UPI, IMPS, NEFT, and RTGS.
The State Bank of India (SBI), which is India’s largest bank, announced on November 30, 2025, that it would completely discontinue the M-Cash service. Customers cannot send money using mCASH on the OnlineSBI platform or the YONO Lite app starting from December 1, 2025. The bank advised account holders to use secure digital payment methods like UPI, IMPS, NEFT, or RTGS for transferring money to any person or account.
What Was the mCASH Service and How Did It Function?
mCASH was a money transfer facility offered by SBI. It let users send money simply using a mobile number or email ID along with an mPIN code. The recipient got a link or a code. They would claim the amount using the app or link. After the claim process, the money directly moved to their bank account.
Why Was the mCASH Service Discontinued?
SBI described mCASH as an old and less secure process. Today, safe digital payment methods like UPI, IMPS, NEFT, and RTGS are widely popular across the country. They are fast, secure, and reliable. Therefore, the bank removed mCASH and recommended that account holders use these modern digital payment platforms.
What Are the Current Transaction Methods for People?
Unified Payments Interface (UPI)
UPI has become India’s most rapid and trusted digital payment platform. You don’t need the beneficiary’s bank account number or IFSC code. You can instantly send money just with a mobile number or UPI ID. Its use is common everywhere, from small street vendors to large hotels. For UPI, you can use apps like BHIM, Google Pay, PhonePe, or SBI’s own BHIM SBI Pay / YONO app.
IMPS, or Immediate Payment Service
IMPS is a quick banking facility. You can instantly send money anytime—day or night, on weekends or holidays. It’s very useful when you need to transfer money to an account immediately. The money is instantly debited from your account. It gets credited immediately to the beneficiary’s account. SBI customers can easily use it through net banking or the YONO app. For the transaction, you only need the beneficiary’s account number, bank name, IFSC code, and sometimes a mobile number. This is why IMPS is considered the most reliable digital payment option for urgent needs.
