On Tuesday, ICICI Bank in collaboration with PhonePe has announced instant credit on UPI. The bank has given this information in its statement. It has been informed that this service will be provided to the customers of the apps of digital payment companies.
Pre-approved customers of ICICI Bank will get service
Pre-approved customers of ICICI Bank will get instant short term credit on PhonePe app. These credits can be used for UPI transactions. Let us tell you that customers are being given a credit of Rs 2 lakh on UPI by the bank.
The service has been started for the customers during the festival season so that they do not face any problem in purchasing expensive items. This service is being provided to customers on electronics, travel, bill payment and hotel booking etc. Payment will have to be returned within 45 days.
How can I activate?
To activate it, you will have to login to the PhonePe app. Then click on credit activation banner. Then activate it after knowing its details. Once the credit line is approved, customers can link it to UPI. Then you can do UPI transaction by setting your UPI Pin.
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