ICICI Bank has partnered with ZestMoney, a digital EMI/pay-later platform, to expand its cardless EMI facility for retail and e-commerce purchases. Customers can convert transactions up to Rs 1 million into EMIs by entering their registered mobile number, PAN, and OTP at the e-commerce website/app or at the PoS machine in retail outlets, without using cards. The service is currently available on select e-commerce websites and will soon be available in retail stores.
Sudipta Roy, Head, Unsecured Assets, ICICI Bank, said, “We always strive to address customers’ credit needs by providing them with innovative and hassle-free solutions. With this partnership, millions of our pre-approved customers can shop from e-commerce platforms and retail merchants registered on ZestMoney by just using mobile phone and PAN. We believe, this facility provides immense convenience and improves affordability of our customers, as they can purchase high-value products on EMIs in a secure, instant and digital manner, without even carrying their cards or wallet.”