ICICI BANK ENABLES NRI CUSTOMERS TO USE INTERNATIONAL MOBILE NUMBER TO MAKE UPI PAYMENTS IN INDIA

ICICI Bank enables NRI customers to use international mobile number to make UPI payments in India

• NRI customers residing in 10 countries can pay utility bills and merchants in India through iMobile Pay

Dubai/Mumbai: ICICI Bank today announced that it has enabled NRI customers to use their international mobile number to make UPI payments instantly in India, thereby significantly enhancing their convenience of making everyday payments. With this facility, the NRI customers of the Bank can make payments for their utility bills, merchant and e-commerce transactions with their international mobile number registered with their NRE / NRO bank account held with ICICI Bank in India. The Bank has made this service available through its mobile banking app, iMobile Pay. Earlier, NRIs had to register an Indian mobile number with their banks to make UPI payments.

To bring forth this facility, ICICI Bank has leveraged on the international infrastructure laid down by National Payments Corporation of India (NPCI) for convenient usage of UPI across countries. The Bank offers this facility across 10 countries namely USA, UK, UAE, Canada, Singapore, Australia, Hong Kong, Oman, Qatar and Saudi Arabia.

NRI customers of the Bank can make UPI payments by scanning any Indian QR code, sending money to a UPI ID or any Indian mobile number or Indian bank account.

Speaking on the initiative, Mr. Sidharatha Mishra, Head – Digital Channels and Partnerships, ICICI Banksaid, “We are delighted to partner with NPCI to launch the UPI facility on international mobile number through iMobile Pay. With this facility, our NRI customers residing in 10 countries do not need to switch to an Indian mobile number to pay using UPI. This launch reinforces our commitment to provide our NRI customers with innovative solutions, for them to have a safe, secure and hassle-free payment experience. We are witnessing a positive response from our NRI customers who have started using this facility. With this initiative, we intend to leverage on NPCI’s UPI Infrastructure in strengthening and transforming the digital payments ecosystem globally”.

Below are easy steps to activate UPI facility on international mobile number using iMobile Pay:

Step 1: Log in to iMobile Pay app

Step 2: Click on ‘UPI Payments’

Step 3: Verify Mobile Number

Step 4: Click on Manage –> My Profile

Step 5: Create new UPI ID (select from the suggested options)

Step 6: Select the Account Number -> Submit

To know more about UPI facility on international mobile number, please visit https://www.icicibank.com/nri-banking/money_transfer/money2india/upi

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About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s total assets stood at ₹ 18,71,515 crore at March 31, 2024.

Certain statements in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospects) are forward-looking statements intended to qualify for the ‘safe harbor’ under applicable securities laws including the US Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. These risks and uncertainties include, but are not limited to statutory and regulatory changes, international economic and business conditions; political or economic instability in the jurisdictions where we have operations, increase in non – performing loans, unanticipated changes in interest rates, foreign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy of our allowance for credit losses, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks, changes in India’s sovereign rating, as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. Any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov