Jobaaj Stories
ICICI Bank is to provide a new facility to its customers. With this facility, UPI payments can convert into EMI by scanning the QR. It is the first-of-its-kind facility that can make buying goods and services more instantly affordable to its customers.
ICICI will offer the facility for a variety of items, including electronics, clothing, travel, hotel reservations, etc. Customers can now pay transactions up to Rs. 10,000 or above in easy instalments of three, six, or nine months. The Private Lender states that the Customers eligible for the PayLater facility can avail of the EMI option by using ‘Buy now, Pay Later'.
Further, in the press release, the Head of Digital Channels & Partnership at ICICI, Bijith Bhaskar, stated that ICICI always aims to provide unique products and services to its customers that may cater to their credit needs.
With their varied observations they depicted that most customers make payments using UPI from PayLater. With this, Lakhs of their customers can shop for mid to high-value and pay in easy instalments.
In 2018, ICICI Bank was the first to introduce the PayLater Facility. It allowed customers to buy items in a digital and paperless manner.
According to the sources, The facility will also extend to online shopping later.
-Kratika Agarwal
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