ICICI bank Eazypay
ICICI bank has finally come up with a solution for the payment in a digital mode. Now it will give stiff competition to Paytm. Eazypay – the current launch from the bank will apparently be just like Paytm – but somewhat easier to make payments through.
What is Eazypay all about?
- Eazypay is a mobile app which you can download easily on your Android phone. It is here to be a competitor for the likes of Paytm. It will provide the merchants with an easy, cashless solution for payments.
- Eazypay has been called the first of such payment portals which accepts payments not only via an UPI based mode, but also via net banking and debit and credit cards.
- There are very few apps that help you make payments via UPI. Then there are apps that facilitate payment over debit or credit cards. But this is a standalone app that will allow you to pay via net banking too.
So what are the advantages of this app?
So we dug deeper to find out what are the additional things we will get via this app since there are already many apps that help us make over the counter cashless payments. What we found delighted us. There are three main advantages of using this app, they are –
- No limit: there is no upper limit of the amount you can transfer via this app. At present, many other apps have this limit which allows you to make a transaction of Rs. 10, 000 at a time. This app will not have any such restriction.
Since it is basically not a wallet, so there is no upper limit for the amount you can receive. This will be the best option for the merchants because then they can receive any amount via this app – there is practically no acceptance limit here.
- Pay via any bank account: Eazypay is an app that is directed towards the merchants. You can accept the cash from any accounts at any banks via this app. It is an independent app based on UPI systems. Hence, it is unified and can accept payments in cashless mode via any bank account.
- You don’t need any document verification: It is not KYC based. Hence, you don’t need to carry out lengthy procedures of KYC or documentation for using this app. This is a recommended method for the traders and merchants to accept payments.
All you need is a bank account that can be linked with this bank. If you have an existing bank account you can start using it immediately. As soon as you are paid by the customer, the amount will be transferred to your account.