ICICI Bank has announced that it has enabled millions of customers to pay to any merchant QR code by using the Bank’s digital rupee (e₹) app named ‘Digital Rupee by ICICI Bank’. The Bank has made it possible by making its digital rupee app UPI (Unified Payments Interface) interoperable. This integration allows customers to scan existing UPI QR codes at merchant outlets and pay via the digital rupee app, eliminating the need for mandatory onboarding procedures.
The bank aims to provide seamless digital banking solutions and promote greater acceptance of digital currency among customers. To make quick payments, users can update the app to the latest version, login, scan the merchant’s UPI QR code, select the amount, enter the PIN, and complete the transaction. The app is available for both Android and iOS devices and allows users to load money from their savings account.
Speaking on the initiative, Mr. Bijith Bhaskar, Head- Merchant Ecosystem, ICICI Bank said, “ This new feature on our digital rupee app –‘Digital Rupee by ICICI Bank’– enables the Bank’s customers to make payments on existing merchant QR code, thereby exponentially expanding the avenues for payments.”
