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ICICI Bank: There is good news for the customers of ICICI Bank as now they can get the facility of UPI payment through EMI. ICICI Bank has announced that customers of the bank can avail Unified Payments Interface (UPI) payments through the Equated Monthly Installment (EMI) facility. For this, they can scan the QR code. The bank has given this information in a press release issued on 11th April i.e. yesterday.
Who can take advantage of this service
Now ICICI Bank customers can visit any store, scan the QR code and pay in easy instalments. Through this, those customers who have acquired eligibility for the bank’s ICICI pay letter can take advantage. Under this, ‘Buy Now, Pay Later’ service can be availed for UPI payment with EMI option.
What are the requirements for making UPI payment through EMI?
For this facility of ICICI Bank, it is necessary that the transaction amount is more than Rs. 10,000 only then it can be converted into EMI.
Bank’s customers will get three options through which they can choose from the option of three months, 6 months and 9 months installment.
Soon the service will also start for online shopping
Customers can buy electronic items, groceries and clothes through the bank’s newly launched pay letter EMI facility. It can also be used for travel booking and hotel booking. However, EMI facility for UPI payment is currently not available for online payments. ICICI Bank has said that soon the facility of pay letter is going to be started for online shopping as well.
How to pay UPI payments in EMIs through ICICI PayLater
For example, if you are a customer of ICICI Bank, then you go to a shopping store and buy groceries. If your amount is more than Rs.10,000, go to iMobile Pay app, scan the QR code and select Pay Later EMI option. In this, you have to choose the tenure or time period of EMI, such as you can take three months, 6 months and 9 months. After this your transaction will be completed.
According to the ICICI Bank website, the pending payment of the pay letter will automatically be deducted from your ICICI Bank savings account. This information has been given on the website of ICICI Bank.
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