Swedish communication company Truecaller is now venturing into the mobile payment segment by inking a partnership with Indian private sector bank, ICICI Bank. Christened ‘Truecaller Pay’, it will allow the app users in the country to instantly create a UPI id, and facilitate peer-to-peer money transfer to any UPI id or a mobile number registered with the BHIM app.
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. It also allows users to recharge their mobile number from within the app itself.
“We are very excited to launch Truecaller Pay together with ICICI Bank and as a first stop we will offer peer-to-peer solutions right from your contacts as well as recharge happening naturally from your dialer and SMS app,” said Nami Zarringhalam, CSO and Co-founder, Truecaller.
Zarringhalam further added that as users in India on board digitally and benefit from the Truecaller platform, the company aims to contribute to the country’s mission of going cashless.
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. In order to use ‘Truecaller Pay’, all a customer would need is a one-time registration to create a new UPI id or add an existing ICICI Bank VPA. On the completion of the one-time registration, users can instantly send money to any UPI id or mobile number, browse the recharge plan of various telecom operators and recharge their prepaid mobile or pay their postpaid mobile bills.
“We are delighted to offer our UPI platform to Truecaller which is one of India’s most widely used mobile application. With this new service, users will get the benefit of making quick and easy payments to any mobile number registered with the BHIM app, thereby enabling them to reach out to a wider section of people,” said Abonty Banerjee, Senior General Manager & Head, Digital Channels, ICICI Bank.
‘Truecaller Pay’ can be accessed via the ‘Send money through UPI’ tab on the app’s profile page. All transactions are powered by ICICI Bank’s two factor authentication as per RBI guidelines for secure transfer of money. All sensitive data relating to account details, card details information of users as well as transfer of monies will be securely handled and stored in the ICICI Bank servers in line with NPCI and RBI guidelines.
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