Canara Bank launch UPI-Interoperable Digital e-Rupee Mobile App for CBDC Transactions

Abhishek012 · Aug 22, 2023

Canara Bank launch UPI-Interoperable Digital e-Rupee Mobile App for CBDC Transactions:

Canara Bank has taken a pioneering step by launching the UPI interoperable Canara Digital Rupee app, becoming the first bank in India to do so.

Canara Bank, a leading player in the Indian banking sector, has taken a monumental step by introducing the UPI interoperable digital rupee mobile application. This move places Canara Bank at the forefront of innovation, becoming the first bank across both the public and commercial sectors to offer this pioneering feature. The app, named the Canara Digital Rupee app, marks a significant milestone as a part of the Reserve Bank of India’s (RBI) Central Bank Digital Currency (CBDC) pilot project.

Enabling Seamless Transactions with UPI QR Codes

This forward-thinking initiative empowers customers to seamlessly complete transactions through their smartphones. With the Canara Digital Rupee app, customers can effortlessly scan merchant UPI QR codes, facilitating payments using the digital currency. This streamlined process brings a new level of convenience to digital payments, enhancing the overall transaction experience for users.

Simplifying Merchant Adoption of Digital Currency Payments

A distinctive aspect of this development is its positive impact on merchants. The Canara Digital Rupee app allows merchants to accept payments using their existing UPI QR codes, opening the doors to digital currency transactions without the need for a separate onboarding process for CBDC. This approach not only accelerates the adoption of digital currency but also encourages businesses to embrace innovative payment methods.

Leadership Insight: Revolutionizing the Indian Economy

K. Satyanarayana Raju, the Managing Director and CEO of Canara Bank, commended the launch of the UPI-interoperable mobile application as a revolutionary stride towards digitizing the Indian economy. Raju emphasized that this application marks a pivotal advancement, enabling customers to relish the advantages of rapid and secure transactions facilitated by the RBI’s digital currency framework.

Accessible Across Platforms for Widespread Adoption

The Canara Bank Digital Rupee mobile application is available for both Android and iOS users, ensuring inclusivity and accessibility across a wide range of smartphones. As per RBI regulations, the digital currency holds the status of legal tender, reinforcing the credibility of this innovative approach. The app’s launch marks a noteworthy milestone in India’s journey towards embracing digital currency, fostering financial modernization in the country.

Strange · Aug 22, 2023

Abhishek012 said:
Canara Bank launch UPI-Interoperable Digital e-Rupee Mobile App for CBDC Transactions:
Canara Bank has taken a pioneering step by launching the UPI interoperable Canara Digital Rupee app, becoming the first bank in India to do so.

Canara Bank, a leading player in the Indian banking sector, has taken a monumental step by introducing the UPI interoperable digital rupee mobile application. This move places Canara Bank at the forefront of innovation, becoming the first bank across both the public and commercial sectors to offer this pioneering feature. The app, named the Canara Digital Rupee app, marks a significant milestone as a part of the Reserve Bank of India’s (RBI) Central Bank Digital Currency (CBDC) pilot project.

Enabling Seamless Transactions with UPI QR Codes
This forward-thinking initiative empowers customers to seamlessly complete transactions through their smartphones. With the Canara Digital Rupee app, customers can effortlessly scan merchant UPI QR codes, facilitating payments using the digital currency. This streamlined process brings a new level of convenience to digital payments, enhancing the overall transaction experience for users.

Simplifying Merchant Adoption of Digital Currency Payments
A distinctive aspect of this development is its positive impact on merchants. The Canara Digital Rupee app allows merchants to accept payments using their existing UPI QR codes, opening the doors to digital currency transactions without the need for a separate onboarding process for CBDC. This approach not only accelerates the adoption of digital currency but also encourages businesses to embrace innovative payment methods.

Leadership Insight: Revolutionizing the Indian Economy
K. Satyanarayana Raju, the Managing Director and CEO of Canara Bank, commended the launch of the UPI-interoperable mobile application as a revolutionary stride towards digitizing the Indian economy. Raju emphasized that this application marks a pivotal advancement, enabling customers to relish the advantages of rapid and secure transactions facilitated by the RBI’s digital currency framework.

Accessible Across Platforms for Widespread Adoption
The Canara Bank Digital Rupee mobile application is available for both Android and iOS users, ensuring inclusivity and accessibility across a wide range of smartphones. As per RBI regulations, the digital currency holds the status of legal tender, reinforcing the credibility of this innovative approach. The app’s launch marks a noteworthy milestone in India’s journey towards embracing digital currency, fostering financial modernization in the country.

Where is app link?

Abhishek012 · Aug 22, 2023

Strange said:
Where is app link?

Dnt forget to share screenshot, how to link CBDC with UPI. CBDC app create any new UPI ID or something else.

Play store - https://play.google.com/store/apps/details?id=org.npci.erupeeCANARA&hl=en&gl=US
IOS store - https://apps.apple.com/in/app/canara-digital-rupee/id6447098968

Strange · Aug 22, 2023

Abhishek012 said:
Dnt forget to share screenshot, how to link CBDC with UPI. CBDC app create any new UPI ID or something else.

Play store - https://play.google.com/store/apps/details?id=org.npci.erupeeCANARA&hl=en&gl=US
IOS store - https://apps.apple.com/in/app/canara-digital-rupee/id6447098968

I am already using this app. I thought you are talking about new app.

Abhishek012 · Aug 22, 2023

Strange said:
I am already using this app. I thought you are talking about new app.

Any upi update ? or maybe not live for all users.

Strange · Aug 22, 2023

Abhishek012 said:
Any upi update ? or maybe not live for all users.

I just did a scan and pay transaction to Paytm merchant qr and it was successful.

Abhishek012 · Aug 22, 2023

Strange said:
I just did a scan and pay transaction to Paytm merchant qr and it was successful.

Ohh, what's the UPI id for CBDC ?

Strange · Aug 22, 2023

Abhishek012 said:
Ohh, what's the UPI id for CBDC ?

mobile number @drcanb

Abhishek012 · Aug 22, 2023

Strange said:
mobile number @drcanb

Ok, so CBDC create a VPA for UPI payment, Great.

Abhishek012 · Aug 22, 2023

Strange said:
mobile number @drcanb

@VISHESH_BANSAL last time tumhara HDFC CBDC app me nahi hua tha na UPI se pay ? Shayad ab HDFC me bhi live ho gaya hoga.

Abhishek012 · Aug 22, 2023

Strange said:
mobile number @drcanb

Now i have few interesting ques. What if i send money to this vpa address ?

My normal rupee will convert into digital e-rupee or receive funds is not allowed to this vpa ?

2nd ques, if receive funds allowed to this vpa then can we send money to this vpa through RuPay CC link UPI ? 😜😜

VISHESH_BANSAL · Aug 22, 2023

Abhishek012 said:
@VISHESH_BANSAL last time tumhara HDFC CBDC app me nahi hua tha na UPI se pay ? Shayad ab HDFC me bhi live ho gaya hoga.

Even Indus and Kotak is live.

But whenever I scan any merchant QR This is the Error that Pop up:-

"BANK IS NOT REGISTERED FOR"

So I think Merchant need to enable E-Rupee just like any other Pay Mode.

Strange · Aug 22, 2023

Abhishek012 said:
Now i have few interesting ques. What if i send money to this vpa address ?

My normal rupee will convert into digital e-rupee or receive funds is not allowed to this vpa ?

2nd ques, if receive funds allowed to this vpa adress then can we send money to this vpa through RuPay CC link UPI ? 😜😜

UPI Id is not getting verified, So we can't send money to this UPI id also Canara Bank e₹ app load money via third party UPI is under development it's not working.

There is no option to send to UPI id, only contacts and scan QR code option is available.

I tried to scan normal UPI qr but it says invalid virtual address.

Strange · Aug 22, 2023

VISHESH_BANSAL said:
Even Indus and Kotak is live.

But whenever I scan any merchant QR This is the Error that Pop up:-

"BANK IS NOT REGISTERED FOR"

So I think Merchant need to enable E-Rupee just like any other Pay Mode.

Even in Paytm qr?

VISHESH_BANSAL · Aug 22, 2023

Strange said:
mobile number @drcanb

How to Find this UPI ID ?

VISHESH_BANSAL · Aug 22, 2023

Strange said:
Even in Paytm qr?

Yes. I scanned only Paytm QR

Strange · Aug 22, 2023

VISHESH_BANSAL said:
How to Find this UPI ID ?

It is showing in Paytm merchant app.

Abhishek012 · Aug 22, 2023

VISHESH_BANSAL said:
Even Indus and Kotak is live.

But whenever I scan any merchant QR This is the Error that Pop up:-

"BANK IS NOT REGISTERED FOR"

So I think Merchant need to enable E-Rupee just like any other Pay Mode.

No, I think your e-Rupee UPI VPA is not created yet.

Similar to canara bank vpa - "mobile number @drcanb" you will get some UPI VPA like "mobile number @drkotak" etc

dr means digital rupee.

irohitpragya · Aug 24, 2023

Got idfc digital rupee UPI feature today. Done a sucessful transaction.

Abhishek012 · Aug 25, 2023

irohitpragya said:
Got idfc digital rupee UPI feature today. Done a sucessful transaction.

Great.

Canara Bank launch UPI-Interoperable Digital e-Rupee Mobile App for CBDC Transactions

TF Pioneer