“ICICI Bank Launches UPI Payments for NRI Customers in India, Enhancing Digital Payment Convenience”

ICICI Bank has taken a significant step towards enhancing digital payment convenience for its non-resident Indian (NRI) customers in India. On Monday, the bank announced the launch of instant payment facility UPI (Unified Payments Interface) for NRIs through their international mobile numbers.

This move is expected to greatly improve the ease of everyday transactions for NRI customers. With the new facility, ICICI Bank’s NRI customers can now make payments for utility bills, merchant transactions, and e-commerce purchases using their international mobile numbers registered with their NRE/NRO bank accounts held with ICICI Bank in India.

The bank’s statement highlighted the convenience factor, stating that NRIs can utilize this service through ICICI Bank’s mobile banking app iMobile Pay. Previously, NRIs had to register an Indian mobile number with their bank accounts to make UPI payments, especially across 10 countries including the USA, UK, UAE, Canada, Singapore, Australia, Hong Kong, Oman, Qatar, and Saudi Arabia.

The implementation of this service enables NRI customers to make UPI payments by scanning any Indian QR code, sending money to a UPI ID, or transferring funds to an Indian mobile number or Indian bank account. Siddhartha Mishra, Head of Digital Channels and Partnerships at ICICI Bank, emphasized the convenience aspect, noting that NRI customers in the specified 10 countries no longer need to switch to an Indian mobile number to make UPI payments.

This initiative aligns with ICICI Bank’s strategy to leverage NPCI’s UPI infrastructure in enhancing and transforming the digital payments ecosystem globally. By providing seamless access to UPI payments through international mobile numbers, ICICI Bank aims to simplify financial transactions for NRIs and contribute to the growth of digital payments worldwide.

Sources By Agencies

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