ICICI Bank has unveiled 'mVisa', a new mobile payment solution from Visa. This service enables customers to make electronic payments from their smartphones at physical stores, e-commerce & other deliveries at home, radio taxis and utility billers among others. This is the first bank globally to unveil a mobile app based 'mVisa' solution for consumers and merchants.
With this service, users of 'Pockets' can make cashless payments from their smartphones using their debit card by simply scanning a 'mVisa' Quick Response (QR) code at a merchant location without swiping the card at an EDC machine and to use this facility, a customer is simply required to click on the 'mVisa' icon on the home screen of the 'Pockets' app. The app automatically activates the camera in the phone, allowing customers to scan the QR code and enter their debit card PIN.
ICICI Bank is India's largest private sector bank. The Bank's subsidiaries include India's leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank's presence currently spans 17 countries, including India.
