Customers who already have a UPI ID will receive a new ID when they log into ‘Pockets’. App. The new users, including those who are not customers of ICICI Bank, immediately receive a UPI ID that is automatically linked to “Pockets”.
“This initiative enables users to use UPI to securely conduct everyday, low-value transactions directly from their ‘Pockets’ wallet. This helps them to optimize the number of transactions that are carried out daily from their savings account and thus to organize the bank statement of the savings account with several entries, ”said a press release from the company.
The ICICI Bank has collaborated with NPCI to connect the digital wallet ‘Pockets’ to the UPI network. Pockets digital wallet users can use the UPI ID to make person-to-person (P2P) payments, e.g. B. Sending money to a person’s bank account. You can also pay online at retailers or by scanning QR codes. Users receive rewards for every transaction they make with the wallet.
Here’s how to get started
- To be able to use the function, a new user must download and log into ‘Pockets’.
- If the login is successful, a ‘Pockets’ VPA is automatically created based on the registered mobile number of the user. For example: 9999xxxxxx @ Taschen, where ‘9999xxxxxx’ is the registered mobile number.
- No bank account details are required to create the UPI ID. A user can also change the automatically generated UPI ID to an ID of his choice using the “Change” option under “BHIM UPI” in the app.