How ICICI Bank customers can make payments using the digital rupee app
₹) 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 empowers customers to scan existing UPI QR codes at merchant outlets and pay via the digital rupee app.
At the same time, it helps merchants to accept digital rupee payments on their existing UPI QR code, eliminating the need for a mandatory onboarding procedure. ICICI Bank’s introduction of UPI interoperability on its digital rupee app provides flexibility and convenience to customers. It also expands the usage of the digital rupee.
ICICI Bank was selected to participate in the first cohort of the pilot project on digital currency launched by the Reserve Bank of India (RBI) in December 2022. The Bank is live with this facility in 80 cities across the country. “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 codes, thereby exponentially expanding the avenues for payments," said Bijith Bhaskar, Head- Merchant Ecosystem, ICICI Bank.
We believe this initiative will bring a paradigm shift in the future of digital payments in India and promote greater acceptance of digital currency among customers and contribute to an increased volume of transactions through digital rupee, he added. · Open AppStore or PlayStore to update ‘Digital Rupee by ICICI Bank’ to the latest version · Login through the app · Click on the scan QR option and scan the merchant’s UPI QR code · Select the amount and enter the PIN · The transaction is done The ‘Digital Rupee by ICICI Bank' app is available for both Android and iOS devices. The app provides users the convenience of loading their
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