Chandigarh, (Aditi) : ICICI Bank announced that it has introduced easy EMI facility for UPI payments made by scanning QR code. Customers eligible for PayLater, the Bank’s ‘buy now, pay later’ service can avail of the EMI facility in an instant, easy and seamless manner. This first-of-its-kind facility enhances affordability of lakhs of the Bank’s customers as they can now instantly buy products or services just by scanning the required merchant QR code at a store and making payments in EMIs.
The facility can be availed across a host of categories such as electronics, groceries, fashion apparels, travel and hotel bookings. Customers can pay transaction amount above ₹10,000 in easy instalments in three, six or nine months. The EMI facility for PayLater will shortly be extended for online shopping as well.
Talking about the new facility, Mr. Bijith Bhaskar, Head- Digital Channels & Partnership, ICICI Bank, said “We, at ICICI Bank, always aim at launching products and services to improve convenience of our customers and to provide unique solutions to address their evolving credit needs. We have seen that maximum payments these days are made through UPI. In addition, we have observed that customers are increasingly opting for UPI transactions from PayLater, the Bank’s ‘buy now, pay later’ service.