ICICI Bank Rolls Out EMI Facility for UPI QR Code Payments

12 Apr 2023, 12:30 pm · 1249d ago · 1 min read · indianweb2.com

ICICI Bank has launched an equated monthly installment facility for Unified Payments Interface payments made by scanning merchant QR codes. The first-of-its-kind offering is accessible to pre-approved customers eligible for the private lender's PayLater buy now, pay later credit service. Users can convert transactions instantly into flexible EMI tenures of three, six, or nine months during checkout. ICICI Bank introduced this feature to enhance customer affordability and digitize high-ticket retail purchases without physical credit cards. The integration deepens consumer credit adoption across India’s rapidly growing retail merchant UPI network and payment infrastructure.