SBIePay - Registration, Charges and How to Use

In the growing digital payments ecosystem, financial institutions and enterprises frequently rely on third-party payment aggregators to complete their online transactions. These companies streamline the mode of accepting payments by supporting various payment methods. 

However, unlike most Indian banks, the State Bank of India (SBI) has its exclusive digital payments application, SBIePay. Let us dive straight into how to complete an SBIePay registration online. 

What is SBIePay?

SBIePay is a State Bank of India-owned payment aggregation facility that facilitates the collection of various pending amounts for all registered merchants. These merchants can include:

• Autonomous organisations
• Various government departments
• Educational institutions 

that seek to collect payments for the supplies they provide to different sites.

Who Can Avail the SBIePay Facility?

The SBIePay for business is meant for receiving payments from a bank. If you are a merchant and already have a State Bank of India account, then you can avail this facility. 

For people who value SBI's reputation in terms of safety, this payment gateway is a great choice. Initially, it might not seem as straightforward as other popular payment aggregators. The payment gateway can handle international transactions, including cards issued abroad.

Step-by-Step Procedure for SBIePay Registration 

Interested merchants have the option to register themselves under SBIePay by observing the procedure shared below:

1. Visit the website dedicated to SBIePay and navigate to the ‘Sign Up’ button. 
2. Then, provide your phone number and solve the CAPTCHA puzzle. Next, you have to hit the 'Submit' button. 
3. Provide the OTP sent to your phone number. Here, you also need to solve another CAPTCHA before clicking on 'Submit'. 
4. After this, enter the Merchant information page. You must enter the details carefully for a smooth approval. Now, click on ‘Proceed’. 
5. On a fresh page, you have to enter your contact information and select ‘Proceed’. 
6. Enter the required technical and transaction-related details. Check the terms and conditions on the next web page and choose ‘Submit’. 
7. Once approved, the merchant receives a document list, which they must upload for ID verification. 

After the verification is done, you can continue using your SBIePay account. To access the SBIePay registration form, you have to download it from the bank’s official website and send the properly filled form to sbiepay@sbi.co.in.

How to Use SBIePay? 

To make a payment with SBIePay, one must visit the concerned merchant’s website. Then, they have to choose the product or service that they wish to buy. After that, they will be redirected to the ‘SBIePay’ payment gateway. 

To complete your purchase, kindly follow the instructions as displayed on your device screen. For maximum convenience, the SBIePay portal supports a wide range of payment modes, including UPI, various other mobile e-wallets, credit cards, and debit cards. You can choose any of these channels to successfully pay your supplier. 

SBIePay Charges

The transaction charges associated with SBIePay are highly competitive. You can get the details here:

Please note that these SBIePay charges are subject to change according to RBI guidelines. 

SBIePay Benefits

Here are some key advantages that make SBIePay one of the leading payment aggregators in India:

Flexible Model for Merchants

This payment framework offers two different modes of transaction to the registered merchants. In the aggregator-based model, the State Bank of India entirely oversees the payment gateways, which include both hosting and payment completion. 

The alternative payment mode is merchant-hosted, which is particularly beneficial for e-commerce businesses. Through this method, merchants can send and receive money in real-time from anywhere.

Suitable for All Payment Types

SBI has directly partnered with all top banks, which makes the direct integration of internet banking services possible through SBIePay. In addition, SBIePay facilitates net banking, digital wallets, mobile banking and all UPI app transactions with a significant payment success rate.

Decent for Real-time Tracking

End customers and merchants can check the status of their ePay transactions anytime. Moreover, businesses can fetch detailed transaction reports to accurately track their funds after completing SBIePay registration. State Bank of India is widely renowned for offering a substantial degree of transparency.

Supports Automatic Bill Payments

SBI customers can leverage the internal features of SBIePay to automatically settle their pending bills all year round. They can directly initiate payments from their State Bank of India accounts and set the autopay option. This service ensures timely payment of insurance premiums, electricity bills, gas bills, merchant payments, etc.

SBIePay Customer Care

For any complaints or queries towards SBIePay, you can reach out to this toll-free number: 1800221401.

Alternatively, you can send an email to sbiepay@sbi.co.in.

In case you are wondering about the operational hours of SBIePay, here are the quick details:

Final Words

SBIePay is a safe payment gateway that uses SSL encryption. Therefore, merchants and e-commerce operators can greatly rely on this system to accept large payments in real-time. However, this service is not best suited for regular individual customers.

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