ICICI Bank hits 1 lakh VPA registrations on UPI app
Country’s largest private sector lender ICICI Bank on Tuesday said it has reached the milestone of registering one lakh virtual payment addresses (VPA) on Unified Payments Interface (UPI), within three weeks of its launch. “The bank is the first to do so. In a bid to further enhance the usage of UPI, the bank has also announced partnership with Aditya Birla Fashion and Retail (ABFRL) and Hindustan Petroleum Corporation (HPCL) to offer UPI based payments at its retail outlets, making it the largest forthcoming deployment of in-store payments using UPI,” it said in a release. ICICI Bank said customers of any bank who have created their VPA on ‘Pockets’ as well as ICICI Bank customers using ‘iMobile’ can soon pay using their smartphone at over 6,500 HPCL petrol pumps and more than 2,000 stores of ABFRL across the country. ABFRL’s network includes brands like Louis Philippe, Peter England, Van Heusen, Allen Solly, Planet Fashion and Linen Club among others. “UPI is a path-breaking concept which will enable convenient person-to-person and merchant payments using mobile phones,” Chanda Kochhar, MD & CEO, ICICI Bank, said.