ICICI Bank has introduced Unified Payments Interface (UPI) payments for its non-resident Indian (NRI) customers in India, using their international mobile numbers.
This move aims to enhance the convenience of everyday payments for NRIs.
UPI is an instant real-time payments system that enables users to transfer money across multiple banks without disclosing bank account details, offering options using phone numbers and QR codes.
"With this facility, the NRI customers of the bank can make payments for their utility bills, merchant, and e-commerce transactions with their international mobile number registered with their NRE/NRO bank account held with ICICI Bank in India," a statement released by the bank said.
According to the statement, the bank has made this service available through its mobile banking app, iMobile Pay.
Previously, NRIs had to register an Indian mobile number with their bank accounts to make UPI payments across 10 countries, namely, the USA, UK, UAE, Canada, Singapore, Australia, Hong Kong, Oman, Qatar, and Saudi Arabia.
NRI customers of the bank can make UPI payments by scanning any Indian QR code, send money to a UPI ID, or any Indian mobile number or Indian bank account.
"With this facility, our NRI customers residing in 10 countries do not need to switch to an Indian mobile number to pay using UPI," Sidharatha Mishra, Head – Digital Channels and Partnerships, ICICI Bank, said.
According to him, with this initiative, the bank intends to leverage NPCI's UPI (Unified Payments Interface) infrastructure in "strengthening and transforming the digital payments ecosystem globally".
(PTI)
Piyush Goyal with shadow chancellor Rachel Reeves (centre), Vikram Doraiswami and other officials at the India Global Forum
And , Goyal with Jonathan Reynolds