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ICICI launches “EAZYPAY” mobile app based on UPI

eazypayPrivate sector lender ICICI Bank Tuesday said it has launched mobile app ‘Eazypay’ that enables merchants,
retailers and professionals to accept instant cashless payments on mobile phones from their customers through multiple digital modes. A first-of-its kind application, Eazypay offers customers the improved convenience of paying by using their mobile phone through Unified Payment Interface (UPI), any credit or debit card or Internet banking, ICICI 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,” it said. Currently, the app is available on smartphones with Android operating systems but soon it will be also available for smartphones using the iOS operating system.

The statement said that it is also possible to collect money for 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 at the same location. 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 Virtual Payment Address (VPA) for UPI based payments.

Ms. Chanda Kochhar, MD & CEO, ICICI Bank said, “Since the announcement of the demonetisation, 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. I believe that the Eazypay mobile application is a path-breaking concept as it facilitates millions of merchants, retailers and professionals across the country to accept digital payments from various modes on a single mobile application. 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. Additionally, it can be used by upto 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.”

Thereafter, upon getting a notification on SMS, the buyer can simply enter his/her details to pay through credit or debit card or net banking or pockets, it said. For payment using UPI, the buyer can pay either by scanning a Quick Response (QR) code displayed on the sellers phone or directly through their VPA. This secured app enable to transfer money collected directly to the current account of the merchants and professionals.

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