ICICI Bank links UPI ID Facility: Private sector bank ICICI Bank has launched a special facility to link UPI (Unified Payments Interface) ID from its digital wallet pockets on Wednesday 26 May. With this, the obligation to link UPI ID to a savings account is over. Those who are not customers of ICICI Bank, their UPI ID will also be ready immediately and it will be automatically linked to the pockets. Those who already have UPI ID, when they log in on the pockets, their new ID will be ready.
ICICI Bank has introduced this feature firstly in the banking industry and this will allow customers to do UPI transactions through their wallet balance instead of savings account. In such a situation, youths or college students who do not have savings accounts will also be able to use UPI.
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Benefits of pockets linked to UPI
- Scan and Pay: Users can make payments by scanning QR codes on merchant locations or other locations through Bhima UPI on the Pockets app.
- Payment: Customers can use their Pockets UPI ID to pay the collect request sent through any other user or app. Apart from this, they can receive money by creating a collect request by filling the UPI ID and valid amount of the sender.
- Payment to Contax: Through this feature, users can easily pay a person in the contacts included in their phone book.
- UPI Payments on Merchant Sites: Users can make online payments by filling up their Pockets UPI ID by choosing the option of ‘Payments through UPI’ on any merchants site. After filling the ID, a collect request will be generated, which can be completed by accepting the Pockets app.
- money transfer: Customers can easily transfer funds from their Pocket Wallet to a Savings Account or any other Pocket Wallet by filling the Pocket UPI ID or Savigas Account details (with whom to send money).
This is how you can start using this feature
- To use this new feature of ICICI Bank, new users will have to download the pockets and log in. Those who already have this app, they have to update it so that the new feature can be used.
- A Pocket VPA will be created automatically after login. Such as 9999xxxxxx @ pockets, where ‘9999xxxxxx’ is the registered mobile number. Bank account will not be required to create UPI ID.
- The user can automatically change the UPI ID to the UPI ID according to his choice through the Modify option under Bhima UPI in the app.
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