PhonePe Partners With ICICI On UPI Multi-Bank
Info-tech
PhonePe, a digital payments platform, today announced that it has partnered with ICICI Bank on the UPI multi-bank model giving its users the option to create and use multiple UPI IDs with ICICI Bank’s “@ibl” handle and YES Bank’s ‘@ybl’ handle on the PhonePe app.
This addition, in partnership with ICICI Bank, aims to enable seamless payments to over 200 million registered PhonePe users, the company mentioned.
PhonePe believes that collaborating with two banking partners will further strengthen the overall service reliability and uptime of PhonePe's market-leading UPI offering.
Commenting on the announcement, Hemant Gala, Vice President, Financial Services & Payments, PhonePe said in an official statement: “At PhonePe our effort has always been to give customers more choice while making their transaction experience seamless.”
Gala added, “Offering the ‘@ibl’ handle to the users on our platform further solidifies PhonePe’s already fruitful association with ICICI Bank. With customers now being able to choose between multiple handles for their UPI IDs, we have achieved another key milestone in our journey towards making payments easy, secure and accessible to all.”
Talking about the partnership, Bijith Bhaskar, Head- Digital Channels & Partnership, ICICI Bank said in an official announcement, “With an increase in adoption of digital payments, ICICI Bank remains committed to extending its robust, reliable and scalable ICICI stack for wider use to the customers and partners.
He added, “In the further deepening of its collaborative ecosystem, ICICI Bank is partnering with PhonePe for extending UPI services. We believe that with this partnership both ICICI Bank and PhonePe would be able to capitalize on their immense domain strengths for empowering customers to a seamless and simple digital payment experience.”
The new version of the app to add or create ICICI Bank’s UPI ID will be gradually rolled out to the users in the coming weeks.
Published on
June 26, 2020
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PhonePe, a digital payments platform, today announced that it has partnered with ICICI Bank on the UPI multi-bank model giving its users the option to create and use multiple UPI IDs with ICICI Bank’s “@ibl” handle and YES Bank’s ‘@ybl’ handle on the PhonePe app.
This addition, in partnership with ICICI Bank, aims to enable seamless payments to over 200 million registered PhonePe users, the company mentioned.
PhonePe believes that collaborating with two banking partners will further strengthen the overall service reliability and uptime of PhonePe's market-leading UPI offering.
Commenting on the announcement, Hemant Gala, Vice President, Financial Services & Payments, PhonePe said in an official statement: “At PhonePe our effort has always been to give customers more choice while making their transaction experience seamless.”
Gala added, “Offering the ‘@ibl’ handle to the users on our platform further solidifies PhonePe’s already fruitful association with ICICI Bank. With customers now being able to choose between multiple handles for their UPI IDs, we have achieved another key milestone in our journey towards making payments easy, secure and accessible to all.”
Talking about the partnership, Bijith Bhaskar, Head- Digital Channels & Partnership, ICICI Bank said in an official announcement, “With an increase in adoption of digital payments, ICICI Bank remains committed to extending its robust, reliable and scalable ICICI stack for wider use to the customers and partners.
He added, “In the further deepening of its collaborative ecosystem, ICICI Bank is partnering with PhonePe for extending UPI services. We believe that with this partnership both ICICI Bank and PhonePe would be able to capitalize on their immense domain strengths for empowering customers to a seamless and simple digital payment experience.”
The new version of the app to add or create ICICI Bank’s UPI ID will be gradually rolled out to the users in the coming weeks.
Published on
A letter from the Editor
Dear Readers,
The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill.
In these difficult times, we, at BusinessLine, are trying our best to ensure the newspaper reaches your hands every day. You can also access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute.
But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.
I appeal to all our readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. You can help us by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section.
Our subscriptions start as low as Rs 199/- per month. A yearly package costs just Rs. 999 – a mere Rs 2.75 per day, less than a third the price of a cup of roadside chai..
A little help from you can make a huge difference to the cause of quality journalism!
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