ICICI is one of the most popular payment methods among online shoppers in India, a market offering merchants a great opportunity for international expansion.
What is ICICI, how does it work, and how can merchants integrate this payment method into their e-commerce store?
The rapid expansion across e-commerce in India has continued during the past decade, primarily thanks to the increasing popularity of credit cards and online payment methods from local banks, fintechs, and payment providers. India’s growing security infrastructure has also driven a shift away from traditional payment methods toward new options such as online banking. If you want to expand your business operations to India, it’s worth getting familiar with local payment methods, such as the online transfer service provided by ICICI. Read this article to discover this incredibly popular payment method among Indian customers.
ICICI provides an online banking system that allows customers to transfer funds online through the bank’s website. ICICI offers customers an online banking payment solution that allows them to access their bank account 24/7 from anywhere in the world. Users can easily view their account balance, find out the status of their fixed deposit, manage multiple accounts, and transfer funds virtually. The bank transfer feature allows users to pay for online purchases quickly by transferring funds into the seller’s bank account.
During checkout, users can pick ICICI Bank as their payment method. They will be subsequently taken to a page where they can log into net banking using their mobile number registered with ICICI Bank. This is much simpler than remembering their net banking User ID and Password. This makes the payment simple and convenient for users – a mobile number and Debit Card PIN are all it takes to manage all the online payments for any website across categories such as insurance, mobile bill payment, travel, and many others.
ICICI Bank’s transfer payment method is both convenient and secure. The bank allows customers to shop online quickly and easily, with no need to remember their login details to complete the transfer. Merchants also benefit from ICICI’s fast and efficient net banking payment solution. Expanding to India is an excellent idea for e-commerce businesses as the country boasts one of the largest e-commerce markets in the world. Merchants who offer ICICI’s fast and efficient net banking payment method in their checkout will attract customers who are accustomed to using this solution. Bank of Baroda’s online transfer option helps to build a seamless checkout experience that delights customers, reduces cart abandonment, and increases conversion rates.
Merchants can accept online transfers from ICICI by implementing a payment gateway that includes this option. Partnering with a global payment service provider enables you to accept such payments efficiently, thus improving customer experience, boosting repeat business, and increasing your revenue.
Take advantage of a global payment gateway that gives you access to all the relevant local payment methods.
ICICI is one of the most popular payment methods among online shoppers in India, a market offering merchants a great opportunity for international expansion.
Adding ICICI to your checkout page can provide customers with a fast and secure payment option. This will help reduce cart abandonment, increase conversion rates and boost customer satisfaction.
You can track and manage the status of payments through your payment gateway or merchant portal. This will help you keep track of all incoming and outgoing transactions, making it easier to monitor customer purchases. The payment gateway will also provide real-time notifications about successful transactions, enabling you to offer customers a better shopping experience.
UPI payments made using ICICI Bank have a maximum limit of Rs. 1 lakh per transaction. Customers must use other payment methods, such as bank transfer or NEFT, to make larger payments.
Yes, ICICI Bank charges a nominal fee for making online payments. This fee will vary depending on the amount being transferred and other factors. It is recommended to check with ICICI Bank before making any payments to ensure you are aware of all applicable fees.
Take advantage of a global payment gateway that gives you access to all the relevant local payment methods.
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