ICICI Bank Launches UPI For its Mobile Banking Applications

ICICI Bank launched ‘Unified Payments Interface’ (UPI) feature on two of its customer facing mobile banking applications – ‘Pockets’ and ‘iMobile’. UPI enables bank account holders (of banks participating in UPI) to send and receive money using a Virtual Payment Address (VPA) without entering additional bank account details. UPI is available on ‘iMobile’, the bank’s mobile banking application for its customers and on ‘Pockets’, its digital bank for peer-to-peer and e-commerce payments by users including non-ICICI Bank customers. It is the simplest mode of making payments that aims to provide users with the convenience of completing transactions in lesser steps than earlier, thereby reducing the transaction time. Anyone, including non-ICICI Bank customers can access UPI by creating their VPA on ‘Pockets’.

The upgraded ‘Pockets’ & ‘iMobile’ application comprising the UPI system is available on the Google Play Store for smartphones with Android operating systems. It will soon be available on the iOS operating system as well.