To use this facility, a customer is simply required to click on the ‘mVisa’ icon on the home screen of the ‘Pockets’ app.
ICICI Bank has launched a service, enabling customers to make electronic payments from their smartphones at physical stores, e-commerce & other deliveries at home, radio taxis and utility billers among others. This service is based on ‘mVisa’, a new mobile payment solution from Visa.
With this service, users of ‘Pockets’ can make cashless payments from their smartphones using their debit card by simply scanning a ‘mVisa’ Quick Response (QR) code at a merchant location without swiping the card at an EDC machine. This service provides customers the convenience of speed to complete a transaction along with enhanced security as the card remains in possession of the customer.
To use this facility, a customer is simply required to click on the ‘mVisa’ icon on the home screen of the ‘Pockets’ app. The app automatically activates the camera in the phone, allowing customers to scan the QR code and enter their debit card PIN.
“While there are 570 million debit cards in the country, there are only 1.1 million point-of-sale (POS) machines available for card payments. This restricts cashless payments to be made only at a certain category of merchants. We believe that the simplicity of this technology will allow us to address this market gap and enable digital payments for an array of untapped categories such as home deliveries, cab services, and small merchants,” said Rajiv Sabharwal, Executive Director, ICICI Bank.
