ICICI Bank has announced the launch of a unique facility of linking a UPI (Unified Payments Interface) ID to its digital wallet ’Pockets’, marking a departure from the current practice that demands such IDs be linked with a savings bank account. This initiative enables users to undertake small value everyday transactions directly from their ‘Pockets’ wallet. Further, customers who already have a UPI ID, will get a new ID when they log on to the ‘Pockets’ app.
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This initiative enables users to undertake small value everyday transactions directly from their ‘Pockets’ wallet using UPI in a safe and secure manner. It helps them to streamline the number of transactions being undertaken daily from their savings account and thus de-clutter their savings account statement of multiple entries. Further, it expands the convenient usage of UPI to young adults like college students, who may not have a savings account.
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