ICICI Bank Pockets: ICICI Bank has started a new service to link UPI ID with its digital wallet ‘Pockets’. This is the first bank to do so.
ICICI Bank has launched a new facility to link UPI (UPI-Unified Payments Interface) ID to its digital wallet ‘Pockets’. This is an ID that needs to be linked to a savings bank account. New users, including those who are not customers of ICICI Bank, can now immediately get a UPI ID, which is automatically linked to the new service wallet ‘Pockets’. Apart from this, customers who already have UPI ID, will get a new ID by logging on to the ‘Pockets’ app. This will help users to secure daily and secure daily transactions using UPI directly from their pocket wallet. Apart from this, it is convenient to use UPI for young people like college students who do not have savings account. is.
ICICI Bank ‘Pockets’ linked to U PI get these benefits
(1) Scan and Payment – Users can scan QR code through Bheem UPI on ‘Pockets’ app and make payment at
merchant outlets or other locations.
(2) Pay and receive money easily – Customers can use their ‘Pockets’ UPI ID to make payments based on the collect request sent by any other user or app.
(3) Send money instantly to the people you know – With this facility, users can make basic payments to their contacts in the phone book.
(4) UPI payment for online shopping – Users can make online payment at any merchant site by choosing to pay through UPI and entering their pocket UPI ID. Once
they enter their ID, a collect request is generated which
can be accepted on the Pockets app to complete the payment .
(5) Money Transfer – Customers
can transfer funds from their pocket wallet to savings account or any other wallets wallet by entering the recipient’s pocket UPI ID or savings account details . For more information about Packets UPI ID, visit: https://www.icicibank.com/Personal-Banking/bank-wallet/pockets/upi.html
How to start ICICI Bank Pockets
To use this service, new users will have to download and log in to ‘Pockets’. On successful login, a ‘Pockets’ VPA is automatically created based on the registered mobile number of the users.
As an example, 9999xxxxxx @ pockets contains 9999xxxxxx registered mobile number. No bank account details are required to create a UPI ID.
Apart from this, the user can also modify the auto-created UPI ID in their ID of choice through the ‘Modify’ option under ‘Bhima UPI’ within the app. An existing users update their ‘Pockets’ app to a new edition Can do it and can move forward.
Why ICICI Bank started this service
ICICI Bank’s Digital Channels and Partnership Head Bijit Bhaskar says that five years ago, we launched ‘Pockets’, which allows users to instantly open a digital wallet on their mobile phones and start transactions instantly.
Our research has revealed that they are willing to link their UPI ID to their digital wallet, so that they can use the wallet directly for small transactions and use their savings account only for large payments.
Keeping this vision in mind, we worked closely with NPCI to introduce this unique innovative solution in digital banking.
Now we are happy to present this facility. We believe that this facility will provide the benefit of highly convenience and secure UPI payment to the customers using ‘Pockets’ wallet.
ICICI Bank is the first bank in the industry to enable customers to make UPI transactions from their wallet balance instead of their savings account.
The bank has collaborated with NPCI to connect its digital wallet ‘pockets’ to the UPI network, paving the way for this new initiative to link the customer’s UPI ID to its digital wallet.
With this, customers using ‘Pockets’ can pay / receive money directly from ‘Pockets’ wallet balance without using their savings bank account.
Users of ‘Pockets’ digital wallet can also use the UPI ID to make person-to-person (P2P) payments such as sending money to a person’s bank account or paying to a contact.
They can also make merchant (P2M) payments from individuals such as making online payments on merchant sites or making payments by scanning a QR code. In addition, users get many attractive offers on every transaction made using the wallet.
