Cashless Payment Mobile Application Easypay Launched By ICICI Bank

A Cashless Payment Mobile Application, Easypay, has been launched by ICICI Bank to enable merchants, retailers and professionals to accept instant cashless payments on mobile phones from their customers through multiple digital modes.

Cashless Payment Mobile Application - Easypay

Cashless Payment Mobile Application – Easypay

Eazypay is based on the Unified Payment Interface(UPI) of the National Payment Corporation which allows a person to make payment through credit/debit cards and online banking as well, and also through the ‘Pockets’, which is the digital wallet of ICICI Bank, the bank said in a statement.

Any current account holder of ICICI Bank can instantly download Eazypay app and start using it. A non-customer of ICICI Bank can also use the app after opening a current account with the bank.

The app is currently available on Android smartphones and it will be shortly available on iOS smartphones.

“Since the announcement of the demonetization, we have proactively undertaken various measures to accelerate the shift to a digital economy. Eazypay is yet another initiative to fulfill the vision of ‘Digital India’,” said Chanda Kochhar, MD & CEO, ICICI Bank. “I believe this application will have broad-base usage as it allows merchants to collect any amount digitally without any hassles of a daily or monthly limit on collection,” she said.

The app can be used by up to 30 employees of a merchant simultaneously to collect payment on their mobile phones at multiple counters ‘in-the-store’ as well as ‘on-the-go’ like home deliveries. The money collected through this app directly goes to the current account of the merchants and professionals. “Our existing customers do not need to visit a branch or submit any document for using the app,” Kochhar said.

“It is also possible to collect money in situations like home delivery of goods/services, telesales and payment-on-delivery options by e-commerce companies where the buyer and the seller are not physically present in the same location,” ICICI Bank said.

“The seller can raise an invoice in the app by simply entering the amount, selecting the preferred mode of payment by the buyer along with the buyer’s mobile number or VPA (virtual payment address) for UPI based payments,” the bank stated.

“Thereafter, upon getting a notification on SMS, the buyer can simply enter his/her details to pay through credit / debit card / net banking or Pockets. For payment using UPI, the buyer can pay either by scanning a QR (quick response) code displayed on the seller’s phone or directly through their VPA,” ICICI Bank said.