CreditMantri Finserve Private Limited
Door No.3, Block B, No. 147, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
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UPI stands for Unified Payment Interface (UPI). It enables money to be immediately transferred via a mobile phone from one bank account to another. Payments can only be rendered via supporting mobile phone apps. The cash transactions through UPI are available 24x7.
Unified Payments Interface (UPI) is a portal developed by the National Payments Corporation of India (NPCI) to facilitate interoperability between banks. This is a one-stop solution for using separate bank accounts to carry out transfers from a single app.
ICICI Bank became a part of the UPI network to provide seamless money transfer facilities to its customers. ICICI Bank UPI can be accessed through their existing Mobile Banking app iMobile or through their e-wallet app Pockets.
ICICI Bank UPI allows all bank account holders to send and receive money through their smartphones with a single identifier – the Virtual Payment Address (VPA) commonly known as the UPI ID – without needing any bank account information. Customers often do not need to know the IFSC code of the beneficiary or payer, bank account details, etc., and this allows the transaction to be quicker. So customers will make quicker transactions to their friends and merchants.
ICICI Bank customers can use the UPI feature through the iMobile app and non-ICICI Bank customers can access the same through the Pockets app. In order to use UPI, you need to have a bank account in India with your mobile number linked to that bank account. UPIs allow you to link multiple bank accounts to your single ICICI Bank UPI account.
Some other popular apps that provide UPI payment are BHIM created by NPCI, and certain private companies such as Paytm, PhonePe, Google Pay, Amazon Pay, etc. Make sure you have your mobile number listed for authentication on your bank account.
About ICICI Bank Upi
It’s very simple to transfer funds using UPI through the iMobile App:
As mentioned earlier, with ICICI Bank UPI, you can link other bank accounts too. Currently, this feature is available only on the Pockets App. Follow these simple steps to register other bank accounts in a few simple clicks;
1. My UPI transaction expired. Why was my savings account debited? Am I going to get my money back?
In the event of a botched transaction, any money if debited will be reimbursed automatically. In the case of timed out payments, the balance will be settled on the recipient account or the debit account within two working days.
2. How long does it take for the money to be transferred to the recipient’s account?
For successful UPI transfers, the funds are transferred instantaneously to the beneficiary's account.
3.What's the UPI PIN?
UPI PIN (UPI Personal Identification Number) is a 4 to 6-digit secret code that you create/set when you first register with this app. You must enter this UPI PIN to approve all bank transfers. If you have already set up a UPI PIN for other UPI Services, you can use the same for Bharat Interface for Money (BHIM) Bank given MPIN is different from the UPI PIN. Please use the Bharat Interface for Money app to create a new UPI-PIN. Please don't share your UPI PIN with anybody else. Bharat Interface for Money does not store or read your UPI PIN data, and the customer service of your bank will never ask for it
4. What are some of the reasons for a UPI transaction to fail?
There are many explanations for a failure of the UPI transaction:
5. I have two accounts with ICICI Bank, do I require different virtual payment addresses for both of these accounts?
You have the option of either binding the two accounts to a single VPA. In this case, please make sure that you correctly identify which account you would like to use as your default account to debit and which account you would like to use as your default account to credit. Alternatively, you may add a different VPA to each account.
6. What happens if my phone is lost or stolen?
If you lose your phone, the UPI PIN needed to approve all transactions would not be known to a third party and will therefore not be able to use the Bharat Interface for Money. In addition, you have to contact the customer service department at your bank to make sure that your account is not misused.
ICICI Bank Launches Easy EMI Facility For UPI Payments By Scanning The QR Code 12 Apr 2023
ICICI Bank has introduced a facility to convert UPI payments into EMIs by scanning the QR code. Customers eligible for PayLater, the bank's ‘buy now, pay later' service can avail the EMI facility in an instant, easy, and hassle-free manner. This fea...
ICICI Bank has introduced a facility to convert UPI payments into EMIs by scanning the QR code. Customers eligible for PayLater, the bank's ‘buy now, pay later' service can avail the EMI facility in an instant, easy, and hassle-free manner. This feature is the first of its kind and it enhances the affordability of the bank's customers. They can now instantly purchase products or services just by scanning the required merchant QR code at a store and making payments in EMIs. This facility which can be availed across various categories such as electronics, groceries, travel, fashion apparels, and hotel bookings currently will be extended to online shopping also shortly. Customers can pay a transaction amount above Rs.10,000 in easy instalments in three, six or nine months.
ICICI Bank Allows UPI ID to be linked to the Pockets Digital Wallet 11 Jun 2021
ICICI Bank becomes the first bank in the country to allow customers to pay for UPI transactions using their wallet balance, instead of their bank savings account. The bank has collaborated with the National Payments Corporation of India (NPCI) to lin...
ICICI Bank becomes the first bank in the country to allow customers to pay for UPI transactions using their wallet balance, instead of their bank savings account. The bank has collaborated with the National Payments Corporation of India (NPCI) to link its digital wallet “Pockets” to the UPI network. Both existing and new users (ICICI and non-ICICI) can get a new UPI ID linked to their Pockets account. This will help customers delink their daily expenditures from their savings account while using UPI transactions safely and securely.
ICICI Bank Warns Customers not to Fall Prey to the Notorious UPI Scam4 Mar 2021
In a mailer sent out to customers, ICICI Bank educates customers on how not to fall prey to the UPI scam. With the rise of UPI apps, there has been an increase in scams too. One popular scam is where the scamster tricks you into entering your UPI pin...
In a mailer sent out to customers, ICICI Bank educates customers on how not to fall prey to the UPI scam. With the rise of UPI apps, there has been an increase in scams too. One popular scam is where the scamster tricks you into entering your UPI pin with the false promise of receiving large sums of money to your account. Remember that for receiving money, you DON’T have to enter the UPI pin. Just providing your mobile number/UPI ID to the sender is enough. Be vigilant and stay safe while using digital banking and UPI apps.
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