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ICICI Bank collaborates with Truecaller for UPI-based payment

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Private lender ICICI Bank has partnered with mobile app firm Truecaller for a new Unified Payments Interface (UPI) based mobile payment service.

“Truecaller Pay will allow users to create a UPI id instantly, send money to any UPI id or a mobile number registered with the BHIM app, ” said ICICI Bank.

“It will also enable users to recharge their mobile number from within the Truecaller app itself,” it said.

The statement claimed that the partnership will take the Truecaller-ICICI Bank platform among India’s largest mobile payment platform with 150 million customers of the app gaining access to UPI-based payments, reported The Hindu.

“Any user of Truecaller app, including non-ICICI Bank customers, can link their account of any bank (participating in UPI) to create a UPI id and instantly make payments in a safe and secure manner,” said ICICI Bank.

For secure transfer of money, all transactions of Truecaller Pay, powered by ICICI Bank, follow two factor authentication based on Reserve Bank of India (RBI) guidelines.

“All sensitive data relating to account details, card details information of users as well as transfer of monies will be securely handled and stored in the state-of-the-art servers of ICICI Bank in line with National Payments Corporation of India (NPCI) and RBI guidelines,” it said.

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