1. ICICI Bank partners Truecaller for UPI-based mobile payment

ICICI Bank partners Truecaller for UPI-based mobile payment

ICICI Bank today announced a partnership with mobile app firm Truecaller for a new UPI-based mobile payment service. Called Truecaller Pay, it will allow users of the app to instantly create a UPI id, send money to any UPI id or a mobile number registered with the BHIM app, ICICI Bank said in a statement.

By: | Published: March 28, 2017 2:44 PM
It will also enable users to recharge their mobile number from within the Truecaller app itself.

ICICI Bank today announced a partnership with mobile app firm Truecaller for a new UPI-based mobile payment service, said in a PTI report.

Called Truecaller Pay, it will allow users of the app to instantly create a UPI id, send money to any UPI id or a mobile number registered with the BHIM app, ICICI Bank said in a statement.

It will also enable users to recharge their mobile number from within the Truecaller app itself, it said. The statement claimed that the partnership makes the Truecaller – ICICI Bank platform among India’s largest mobile payment platform with 150 million customers of the app gaining access to UPI-based payments, said in a PTI report.

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Any user of Truecaller app, including non-ICICI Bank customers, can link their account of any bank (participating in UPI) to create a UPI id and instantly make payments in a safe and secure manner, it added.

All transactions of Truecaller Pay, powered by ICICI Bank, follow two factor authentication as per RBI guidelines for secure transfer of money. “All sensitive data relating to account details, card details information of users as well as transfer of monies will be securely handled and stored in the state-of-the-art servers of ICICI Bank in line with NPCI and RBI guidelines,” it said.

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Right from the public and private banks to private companies, RBI with its vision of ‘digital India’ has already become very liberal in channelizing the fund transfer policy at different levels. UPI is an initiative taken by RBI’s NPCI which will look after all the digital payments related solutions mostly made through online mode.

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