MoneyWorks4Me

ICICI Bank partners with Truecaller to launch UPI based mobile payment service

28 Mar 2017 Evaluate

ICICI Bank has entered into partnership with Truecaller, a leading Swedish communication company and India’s third most used app to power a new UPI based mobile payment service. Christened ‘Truecaller Pay’ will allow millions of users of the app in the country to instantly create a UPI id, send money to any UPI id or a mobile number registered with the BHIM app. It will also enable users to recharge their mobile number from within the Truecaller app itself.

This partnership makes the Truecaller-ICICI Bank platform among India’s largest mobile payment platform with 150 million customers of the app gaining access for UPI based payments. Any user of Truecaller app, including non-ICICI Bank customers can link their bank account of any bank (participating in UPI) to create a UPI id and instantly make payments in a safe and secure manner. IDBI Bank is first bank globally to associate with Truecaller in their maiden foray into financial services.

Peers
Company Name CMP
HDFC Bank 703.80
ICICI Bank 1357.00
Axis Bank 1243.90
Kotak Mahindra Bank 440.80
Indusind Bank 876.25
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