ICICI Bank has brought digital rupee app that enables its customers to pay to any merchant QR code by using the bank’s digital rupee app named ‘Digital Rupee by ICICI Bank.’ The bank has made it possible by making its digital rupee app UPI (Unified Payments Interface) interoperable, a statement from the bank notified.
With this integration, customers can scan an existing UPI QR code at merchant outlets and pay via the digital rupee app. At the same time, it helps merchants to accept digital rupee payments on their existing UPI QR code, eliminating the need for mandatory on-boarding procedure, added the statement.
It further said that ICICI Bank’s introduction of UPI interoperability on its digital rupee app provides flexibility and convenience to customers. It also expands the usage of digital rupee.
Bijith Bhaskar, Head- Merchant Ecosystem, ICICI Bank, said in the statement, “At ICICI Bank, we strive to provide seamless and innovative digital-banking solutions to our customers. This new feature on our digital rupee app –‘Digital Rupee by ICICI Bank’– enables the bank’s customers to make payments on the existing merchant QR code, thereby exponentially expanding the avenues for payments. We believe this initiative will bring a paradigm shift in the future of digital payments in India and promote greater acceptance of digital currency among customers and contribute to an increased volume of transactions through digital rupee.”
