Key Points:
- ICICI has introduced the new EMI facility.
- Transaction amount above Rs 10000 in easy installments.
- EMI can be availed by scanning QR code.
UPI has made the concept of making payments in India as today everyone uses mobile applications to make payments for different purposes. Now it is made easy and more comfortable as well with the introduction of the EMI facility.
It is worth mentioning that less than a week ago, Reserve Bank announced the launch of sanctioned credit lines at banks through UPI, and now the leading as well as private lender ICICI Bank has enabled EMI facility for UPI payments in the country. The latest and the first kind of facility is available across different categories including electronics, groceries, fashion apparels, travel, and hotel bookings. It is also said that users can now avail EMI facility for UPI payments made by scanning a QR code.
Speaking about the availability, the new EMI facility is available to those who are eligible for PayLater, ICICI Bank’s ‘buy now, pay later’ service. The new setup will enable you to purchase products or services by simply scanning the required merchant QR code at a store and making payments in EMIs.
There is a transaction limit as well and customers can pay a transaction amount above Rs 10,000 in easy installments of 3, 6 or 9 months.
So what are your thoughts on the new EMI facility in UPI? Do let us know in the comments below and stay tuned with us for more updates from the world of technology.
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