ICICI Bank has enabled millions of customers across 80 cities to pay using its digital rupee (e₹) app named ‘Digital Rupee by ICICI Bank’. The bank made its app UPI (Unified Payments Interface) interoperable, allowing customers to scan existing UPI QR codes at merchant outlets and pay via the digital rupee app.
This integration eliminates the need for mandatory onboarding procedures and provides flexibility and convenience for customers. ICICI Bank was selected to participate in the first cohort of the Reserve Bank of India’s pilot project on digital currency in December 2022. The Bank is live with this facility in 80 cities across the country.
Speaking on the initiative, Mr. Bijith Bhaskar, Head- Merchant Ecosystem, ICICI Bank said, “At ICICI Bank, we strive to provide seamless, innovative digital banking solutions to our customers. This new feature on our digital rupee app –‘Digital Rupee by ICICI Bank’– enables the Bank’s customers to make payments on existing merchant QR code, thereby exponentially expanding the avenues for payments. We are honored to participate in this yet another significant ecosystem-level move towards Digital India.”
