State Bank of India, the country’s largest public sector bank, has made a significant announcement that will directly impact the digital banking habits of millions of customers. Amid the growing surge in digital transactions, the bank has decided to completely discontinue its long-standing, popular mCASH feature. Following this decision, customers will be able to use this service until November 30, 2025, but it will be permanently discontinued from December 1st, 2025.
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What was mCASH, and why was it special?
mCASH was a feature that allowed SBI users to send money instantly by simply entering a mobile number or email ID, without the need to add a beneficiary. This feature made small and instant payments extremely simple. Whenever a customer sent money through mCASH, the recipient received a secure link and an eight-digit passcode on their mobile or email, allowing them to claim the amount to any bank account of their choice. This feature, which simplified the banking process, has significantly contributed to faster payments.
Major Reasons for Discontinuing the Service
SBI stated in its statement that mCASH was based on outdated technology and that more advanced, faster, and secure payment methods are available to meet today’s needs. The bank stated that modern payment options like UPI, IMPS, NEFT, and RTGS are not only secure but also facilitate real-time payments. Prioritizing technological advancements and security, the bank has decided to discontinue this outdated feature.
New Instructions for Customers
The bank has clarified that customers should now use the BHIM SBI Pay (UPI app), IMPS, and other electronic fund transfer services for digital payments. UPI allows for payments using VPA, IFSC, account number, and QR codes, making it even simpler. The bank believes that modern payment systems have the potential to make the customer experience more secure and faster.
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Which users will be most affected?
The closure of mCASH will have the greatest impact on users who relied on the service due to the convenience of adding a beneficiary without a beneficiary. While options like UPI and IMPS are quite convenient, some customers will have to adjust their digital banking habits. The bank recommends that all customers transition to the new options on time to avoid any inconvenience after the service is discontinued.