ICICI Bank Introduces UPI Payments for NRIs with International Mobile Numbers
In a groundbreaking move, ICICI Bank has launched a new feature allowing non-resident Indians (NRIs) to conduct Unified Payment Interface (UPI) transactions in India using their international mobile numbers. This significant innovation opens new avenues for NRIs to make UPI payments without the need for an Indian mobile number, simplifying their banking experience and enabling more flexibility in financial transactions.
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| ICICI Bank starts UPI payment service for NRIs from international numbers |
ICICI Bank's iMobile Pay App Paves the Way
ICICI Bank announced that the UPI payment service for NRIs with international numbers is accessible through its mobile banking app, iMobile Pay. This development marks a major shift in how NRIs can engage with UPI, enabling them to make payments with greater ease and convenience. Previously, NRIs were required to have an Indian mobile number linked to their bank accounts to utilize UPI, a barrier that has now been removed for customers in 10 countries, including the USA, UK, UAE, Canada, Singapore, Australia, Hong Kong, Oman, Qatar, and Saudi Arabia.
Enhanced UPI Payment Capabilities for NRIs
With this new service, NRIs can make UPI payments by scanning Indian QR codes, using their UPI ID, or sending money to any Indian mobile number or Indian bank account. This flexibility allows NRIs to conduct various transactions, from sending money to family and friends in India to making payments for goods and services, without the limitations imposed by requiring an Indian mobile number.
The innovation aims to simplify daily payments for NRIs and enhance their ability to manage financial transactions in India. By allowing international mobile numbers to be used with UPI, ICICI Bank has addressed a key pain point for many NRIs, providing a seamless and user-friendly solution.
Activating UPI on International Mobile Numbers
ICICI Bank has designed a straightforward process for activating UPI on international mobile numbers. NRIs can follow these steps to start using UPI through the iMobile Pay app:
Verify the International Mobile Number: The first step involves verifying the international mobile number registered with the NRI's bank account.
Create a UPI ID: Once the mobile number is verified, the customer can create a unique UPI ID, allowing them to perform transactions quickly and efficiently.
Choose the Bank Account: The final step is to select the NRE/NRO account to link with the UPI ID. This setup allows NRIs to initiate UPI transactions seamlessly without needing an Indian mobile number.
With this streamlined process, NRIs can quickly start using UPI for various payment needs, from small daily transactions to larger fund transfers, enhancing their overall banking experience.
A Transformative Step in UPI Payment Services
The introduction of UPI payments for NRIs using international mobile numbers is a transformative step in the banking industry. ICICI Bank's innovative approach addresses a long-standing challenge for NRIs and aligns with the growing trend of digital financial solutions. This feature is expected to have a positive impact on the convenience and accessibility of UPI transactions for NRIs, fostering greater financial inclusion and cross-border connectivity.
As ICICI Bank continues to expand its range of services for NRIs, this latest offering is a testament to the bank's commitment to innovation and customer-centric solutions. By embracing international mobile numbers for UPI payments, the bank is setting a new standard for flexibility and user-friendliness in the digital banking landscape.
