EazyPay app Current Affairs - 2019
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ICICI Bank, India’s largest private sector bank has launched EazyPay mobile application for merchants that allows all-in-one acceptance payments platform.
This app consolidates all digital wallets, QR code, Unified Payments Interface (UPI), and credit & debit cards modes of payments. With this, ICICI Bank became first bank in the country to roll out all-in-one payments platform.
- Eazypay app is sustainable payment mode compared to current peer-to-peer digital applications.
- It has ‘open architecture’ which makes it distinct from other digital payments that are actually closed-loop prepaid instruments.
- Using it customer can make payments through any bank account using UPI or internet banking or using credit or debit card details on smartphone on a link forwarded by the merchant.
- It has no issue of hitting the limit as the money flows directly into the bank account of merchant. It also has its in-built billing application for merchants.
- It also allows merchants to receive payments from ICICI Bank’s own e-wallet ‘Pockets’.