ICICI Bank has unveiled a convenient solution for its Non-Resident Indian (NRI) customers, enabling them to make UPI payments instantly in India using their international mobile numbers. This service, made possible through collaboration with the National Payments Corporation of India (NPCI), is now accessible to ICICI Bank's NRI customers residing in 10 countries, including the USA, UK, UAE, Canada, Singapore, Australia, Hong Kong, Oman, Qatar, and Saudi Arabia. "With this facility, the NRI customers of the bank can make payments for their utility bills, merchant and e-commerce transactions with their international mobile number registered with their NRE/NRO bank account held with ICICI Bank in India," the bank stated in an official release issued today.
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This service is available through ICICI Bank's mobile banking app, iMobile Pay, eliminating the need for NRIs to register an Indian mobile number with their banks to make UPI payments.
NRI customers of ICICI Bank can now make UPI payments by:
- Scanning any Indian QR code
- Sending money to a UPI ID
- Using any Indian mobile number or Indian bank accoun]
Steps to Activate UPI Facility Using iMobile Pay:
1. Log in to the iMobile Pay app
2. Click on 'UPI Payments'
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3. Verify Mobile Number
4. Click on Manage -> My Profile
5. Create a new UPI ID (select from the suggested options)
6. Select the Account Number -> Submit
Currently, the bank allows a UPI transaction limit of Rs 1 Lakh per day for NRIs. Moreover, there are no charges applicable while paying through UPI under this system.
“With this facility, our NRI customers residing in 10 countries do not need to switch to an Indian mobile number to pay using UPI,” said Sidharatha Mishra, Head of Digital Channels and Partnerships at ICICI Bank.
Mishra further remarked that the bank is witnessing a positive response from its NRI customers who have started using this facility. ‘With this initiative, we intend to leverage NPCI’s UPI Infrastructure to strengthen and transform the global digital payments ecosystem,” he said.
Global Expansion of UPI
UPI has already seen success in countries like Singapore and the UAE, where many merchants have begun accepting payments made through the network. As per some reports, the unified payments interface may also expand to Ghana soon as governments of both nations are working to simplify and reduce the cost of cross-border money transfers.
Additionally, discussions are ongoing to introduce UPI in Nigeria as well. NPCI International, responsible for UPI’s global expansion, recently forged a partnership with Namibia to assist in the development of a comparable system.
Currently, countries like Sri Lanka, Mauritius, Bhutan, Nepal, UAE, and Canada have deployed UPI in their respective countries.
