ICICI Bank on Tuesday announced a affiliation with mobile app firm Truecaller for a new Unified Payments Interface- or UPI-based mobile payment service. ‘Truecaller Pay’ will allow users of the app to instantly create a UPI ID and send money to any UPI ID or a mobile number registered with the BHIM app, ICICI Bank – India’s largest private bank – said in a statement. Truecaller Pay will also enable users to recharge their mobile numbers from within the Truecaller app itself, the ICICI Bank statement added.
The statement claimed that the partnership makes the Truecaller-ICICI Bank platform among India’s largest mobile payment platforms with 150 million customers of the app gaining access to UPI-based payments.
Any user of Truecaller app, including non-ICICI Bank customers, can link his or her account of any bank (participating in UPI) to create a UPI ID and instantly make payments in a safe and secure manner, it added.
All transactions of Truecaller Pay, powered by ICICI Bank, follow two-factor authentication as per Reserve Bank of India (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 state-of-the-art servers of ICICI Bank in line with NPCI and RBI guidelines,” it said.