PhonePe Partners ICICI Bank To Offer Credit Line On UPI For Select Use...

PhonePe has partnered with ICICI Bank to offer a credit line on UPI for select users. This service will allow pre-approved customers to access a credit line of up to INR 2 lakh with a repayment period of 45 days. The collaboration aims to expand offerings, tap into new customers, and create additional revenue streams. This initiative follows the RBI’s expansion of UPI to include pre-approved credit lines, enabling high-value purchases. The service is designed to provide seamless digital credit, enhancing the personal banking experience for ICICI Bank customers. This partnership is expected to revolutionize access to credit in India, particularly during the festive season, by facilitating high-ticket purchases through UPI.