Now Convert UPI Payment In EMI By A QR Scan; Know About This New Service By ICICI Bank

By
vipulpatil40
-
0
33
Now Convert UPI Payment In EMI By A QR Scan; Know About This New Service By ICICI Bank


The facility could be availed throughout a bunch of classes comparable to electronics, groceries, trend apparels and so forth.

ICICI Bank stated the EMI facility for PayLater will shortly be prolonged for on-line buying as nicely.

ICICI Bank on Tuesday introduced that it has launched a straightforward EMI facility for UPI funds made by scanning QR code. Customers eligible for PayLater, the financial institution’s ‘buy now, pay later’ service can avail of the EMI facility straight away, straightforward and seamless method.

According to the financial institution, this first-of-its-kind facility enhances the affordability of lakhs of the financial institution’s clients as they will now immediately purchase services or products simply by scanning the required service provider QR code at a retailer and making funds in EMIs.

The facility could be availed throughout a bunch of classes comparable to electronics, groceries, trend apparels, journey and lodge bookings. Customers will pay a transaction quantity above Rs 10,000 in straightforward instalments in three, six or 9 months. The EMI facility for PayLater will shortly be prolonged for on-line buying as nicely.

Also Read: UPI Is Free And Safe! Customers Pay Nothing, Only PPI Merchant Transactions Pay Interchange Fee: NPCI

Bijith Bhaskar, head- digital channels and partnership, ICICI Bank, stated, “We have seen that most funds lately are made via UPI. In addition, now we have noticed that clients are more and more choosing UPI transactions from PayLater, the financial institution’s ‘buy now, pay later’ service.

Bhaskar added that combining these two developments, the financial institution is introducing the power of instantaneous EMI for UPI funds achieved via PayLater. “We consider this facility offers immense comfort and improves affordability of our clients, as they will buy high-value merchandise on EMIs in a safe, instantaneous and digital method.”

Below are steps to avail the EMI facility on PayLater:

  • Visit any physical store and choose your preferred product or service
  • To make the payment, use iMobile Pay app and choose ‘Scan any QR’ option
  • Select PayLater EMI option if transaction amount is Rs 10,000 or more
  • Select tenure among 3, 6 or 9 months
  • Just confirm the payment and the transaction is completed successfully

Read all of the Latest Business News right here

Namit Singh Sengar

Namit is Senior Sub Editor within the enterprise vertical of News18.com. With over 5 years of expertise, he covers private finance, manufacturers and financial system.…Read More



Source hyperlink