Truecaller Pay allows you to send
and receive money via UPI
Truecaller Pay is being powered by ICICI Bank
You can also use it for prepaid recharges or
postpaid bills
Caller ID
application Truecaller on Tuesday announced a partnership with ICICI Bank, to
allow people to send and receive payments through the app. Called Truecaller
Pay, it leverages the Unified Payments Interface (UPI) to power payments from
your ICICI Bank account. For now, the Truecaller Pay feature will only be
available via Truecaller 8 for Android.
At the press
conference to announce the new features, Truecaller CEO and co-founder Alan
Mamedi said that the company is now able to show the true potential of
Truecaller. "We have been able to build a mobile identity platform and
ecosystem that more and more people are relying on a daily basis to build safe
and meaningful services on top of," he said.
With
Truecaller Pay, you will be able to create a Virtual Payment Address (VPA) that
can be used for any UPI-powered transaction. As is the case with any UPI app, you
don't need to have an ICICI Bank account to be able to use this VPA or
Truecaller Pay. As long as your bank supports UPI, you can use Truecaller Pay
to send or receive money from other banks that also support UPI, or to make
online payments for things such as Paytm recharges, or recharging your Tata Sky
account. Users can also do prepaid recharges or postpaid bill payments using
Truecaller Pay.
All the
banking and transactional data of the customers is handled by ICICI Bank as per
RBI guidelines, and Truecaller will not handle data such as account details, or
credit or debit card information of its users.
"We are
very excited to launch Truecaller Pay together with ICICI Bank and as a first
stop we will offer peer-to-peer solutions right from your contacts," said
Nami Zarringhalam, CSO and co-founder at Truecaller.
Truecaller Pay
has been designed as a feature of the Truecaller app itself - you won't need to
download or install any standalone app. Instead, you only need the Truecaller
app, and then, in the profile page, you can tap on Send money through UPI. Then,
you just enter the UPI VPA, or the mobile number that you need to pay, and tap
Pay. Finally, you'll have to authenticate this through your UPI PIN.
"The bank
has played a pivotal role in conceptualising UPI as an initiative along with
NPCI and was the first bank to introduce UPI in its mobile app," said
Abonty Banerjee, Senior General Manager and Head - Digital Channels at ICICI
Bank. "We are delighted to offer our UPI platform to Truecaller. Users
will get the benefit of making quick and easy payments to any mobile number. Users
can also undertake payments for utility services such as pre-paid recharges and
postpaid mobile bills.
source : gadgets 360