Page 23 - Banking Finance January 2024

PRESS RELEASE

ICICI Bank introduces UPI payments via RuPay Credit Cards

ICICI Bank today announced that it has integrated its RuPay Credit Cards with UPI transactions, enhancing the payment
convenience for its customers. With this integration, ICICI Bank customers can simply link their RuPay Credit Cards to
UPI to carry out Person-to-Merchant (P2M) transactions online- such as shopping, payment of utility bills—and offline-
such as payments at a POS (point of sale) machine-- in an effortless and secure manner. Further, they can earn reward
points on their spends, improving their digital payment experience.
The Bank has collaborated with National Payments Corporation of India (NPCI) to enable UPI transactions on its RuPay
Credit Cards. The customers can link ICICI Bank Coral RuPay Credit Card, ICICI Bank HPCL Super Saver RuPay Credit Card
and ICICI Bank Rubyx RuPay Credit Card to UPI. They can scan the merchant QR code and make the payment from their
RuPay Credit Cards using any UPI payment app including iMobile Pay.
Mr. Bijith Bhaskar, Head – Cards, ICICI Bank said “We are delighted to announce our partnership with NPCI to embed
our RuPay Credit Cards with UPI. This partnership is a significant step taken by the Bank to offer improved convenience
to customers on digital payments. The integration of RuPay Credit Cards with UPI provides customers with better financial
liquidity by giving them interest-free credit for up to 50 days. We believe this feature will strengthen our commitment
to offer simple yet convenient solutions to cater to the evolving needs of our customers.”

Commenting on the partnership, Ms. Praveena Rai, Chief Operating Officer, NPCI said “We are delighted to announce
that ICICI Bank RuPay Credit Cards are now live on UPI. RuPay has steadily evolved into a modern, contemporary, and
vibrant brand, known for custom value propositions and cutting-edge technology, ensuring broader acceptance and
security. By merging the versatility of UPI with the reliability of RuPay Credit Cards, we are reshaping the landscape of
digital payments. With this game-changing integration, users will enjoy even more flexibility and convenience in making
digital payments. Through our collaboration with ICICI Bank, our goal is to empower RuPay Credit Card customers with
an enhanced digital payment experience and thereby further fuel India's economic growth.”

HDFC Bank Launches Star-Studded PayZapp Campaign

HDFC Bank, announced the launch of a star-studded PayZapp campaign. The campaign features actors Tiger Shroff, Prabhu
Deva and Kapil Sharma utilising their immense
popularity for a wide consumer connect.
The tongue-in-cheek campaign, conceptualised by
Wondrlab India, a martech network, includes three
films featuring the three actors wherein each
showcases a range of payment choices that PayZapp
offers. The campaign came from the insight that
some people live their whole lives without having
choices, but now they do not have to, at least when
it comes to payments.
Ravi Santhanam, Group Head, Chief Marketing
Officer and Head – Direct to Consumer Business said, “With PayZapp, we have revamped the payment experience for all
consumers extensively, making the journey smoother and easier - be it via UPI, cards or PayZapp wallet. It is not just a
payment app; it is a lifestyle enabler. We want to reach every part of the country aiming to be the preferred choice of
payment app for consumers. The three films on PayZapp have beautifully captured the essence of our brand message.”

Amit Akali, the CCO and co-founder of Wondrlab India, said, “We took a contrarian approach while conceptualising the
campaign. We explored how we can drive the point of unlimited choices by showing the viewers what happens when they
don’t have a choice in life. That is why, we cast the celebrities most known for something, tired of only being seen in those
specific roles and wishing for more choices.”

20 | 2024 | JANUARY | BANKING FINANCE