ICICI Bank Cardless EMI using PAN, mobile number

ICICI Bank introduces ‘Cardless EMI’ using PAN, mobile number: Check how it works

The facility enables lakhs of its pre-approved customers to buy their favourite gadgets or home appliances just by using their mobile phone and PAN in lieu of wallet or cards


Private lender, ICICI Bank announced the launch of a fully digital mode of payment at leading retail stores. Called ‘ICICI Bank Cardless EMI’ (Equated Monthly Instalments), the facility enables lakhs of its pre-approved customers to buy their favourite gadgets or home appliances just by using their mobile phone and PAN in lieu of wallet or cards. They can convert the high-value transactions into easy, no-cost monthly instalments by simply putting their registered mobile number, PAN and OTP (received on mobile number) on the PoS machine at the retail outlets.

ICICI Bank is the first in the industry to introduce a fully digital, cardless EMI facility at retail stores. The Bank has tied up with Pine Labs, a leading merchant commerce platform, to offer this facility across pan-India outlets of leading retailers namely Croma, Reliance Digital, My Jio Stores and Sangeetha Mobiles. At these stores, customers can avail the ‘Cardless EMI’ facility to purchase electronics from leading brands like Carrier, Daikin, Dell, Godrej, Haier, HP, Lenovo, Microsoft, Motorola, Nokia, Oppo, Panasonic, Toshiba, Vivo, Whirlpool and MI. The Bank will add many more brands as well as retailers under this facility in near future.
 
Sudipta Roy, Head- Unsecured Assets, ICICI Bank said, “We at ICICI Bank always strive to enhance our customer’s convenience and provide them with innovative solutions to make banking more accessible and hassle-free. Purchasing home appliances, mobile phones and gadgets on EMI is known consumer behaviour in India. We have seen a large number of consumer durables are purchased by using EMI facilities on credit and debit cards.

How to check eligibility for ICICI Bank ‘Cardless EMI’

ICICI Bank customers can check their eligibility for ‘Cardless EMI’ by sending SMS ‘CF’ to ‘5676766’ or check the offers section on iMobile app

Benefits of ‘ICICI Bank Cardless EMI’

  • No-cost EMI without using a card.
  • No processing fee.
  • The process is completely digital, contactless and secure.
  • Customers can get pre-approved limit for purchases from Rs 10,000 to Rs 10 lakh.
  • Customers can select tenures of their choice from three to 15 months


Steps to avail the ‘ICICI Bank Cardless EMI’ facility:

-Select product at the store.

-Mention willingness to avail ‘Cardless EMI’ to store representative.

-Enter the registered mobile number on the PoS terminal > Enter PAN> Receive OTP > Enter OTP on PoS terminal.

-Transaction gets approved at this stage instantly.

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