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PhonePe Partners ICICI Bank To Offer Credit Line On UPI

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PhonePe Partners ICICI Bank To Offer Credit Line On UPI

- ICICI Bank introduces a credit line service for select customers, allowing them to make UPI payments of up to INR 2 Lakh with a 45-day repayment period. - The collaboration between ICICI Bank and select fintech companies aims to expand their offerings and tap into new customers, generating additional revenue streams. - The RBI's decision to include pre-approved credit lines in UPI has paved the way for this collaboration, enabling customers to make high-value purchases. - ICICI Bank's credit line service aims to provide convenience and flexibility to customers, allowing them to make payments without worrying about immediate cash availability. - This partnership will also contribute to the growth and adoption of digital payment solutions in the Indian market.

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