ICICI Bank Introduces Instant ‘Cardless EMI’ for Online Shopping

ICICI Bank, to enhance customer’s affordability, has introduced the instant ‘Cardless EMI’ facility to online purchases made on e-commerce platforms. 

Customers can convert the transactions up to Rs 5 lakh into easy monthly instalments by simply entering their registered mobile number, PAN, and OTP (received on mobile number) at the check-out section of the e-commerce website or app. The facility can be availed across a host of categories such as electronics, home appliances, laptops, mobile phones, travel, fashion apparels, sportswear, education, and home décor.

“We, at ICICI Bank, believe in providing innovative, convenient, and hassle-free products to our customers. With this thought, we had introduced an instant ‘Cardless EMI’ facility for retail stores in the last festive season to help our customers to purchase products of their choice in a completely contactless, digital, and secure manner. Inspired by the encouraging response from it, we have now extended the facility for online shopping. With this, our customers can shop from over 2,500 e-commerce merchants and brands just by using mobile phones and PAN. The new offering improves affordability to millions of our customers as they can purchase high-value products on EMIs and in a secure, convenient, instant, and digital manner," Sudipta Roy, Head- Unsecured Assets, ICICI Bank said. 

Benefits offered by ‘Cardless EMI’ for online shopping:

• Digital & Instant Process: Customers can avail of the EMI facility in a completely digital, instant, and secure manner

• Wide Transaction Limit: Customers can get pre-approved limit for purchases from Rs 7,000 to Rs 5 lakh 

• Flexible Tenures: Customers can select tenures of their choice from 3, 6, 9 and 12 months

• Exclusive Convenience: No other bank in India offers this convenience

• Wide Range of Categories: The facility is available across 2,500 e-commerce brands of electronics, home appliances, laptops, mobile phones, travel, fashion, sports-wear, and home décor

Here are simple steps to opt for the ‘ICICI Bank Cardless EMI’ facility: 

• Log on to the website or app of any of 2,500 e-commerce brands 

• Choose the products or services > Choose ‘Cardless EMI’ as the payment option

• Enter registered mobile number > enter PAN > enter the OTP

• The transaction gets approved at this stage instantly

ICICI Bank customers can check their eligibility for ‘Cardless EMI’ for online shopping by sending SMS ‘CARDLESS’ to ‘5676766’ or check the offers section on the iMobile app.