Senior Correspondent, IndianRetailer.com & Retailer Magazine Sep 24, 2014 / 2 MIN READ
ICICI Bank today launched a new product to serve the Indian diaspora and cater to their non— financial needs, as per a report in PTI.
Further, the top private lender said ‘NRI Advantage’ entitles customers to avail of exclusive discounts/special offers. It is targeted at NRI Premia, NRI Pro and NRI savings account holders.
Commenting on the offering, ICICI Bank Executive Director Rajiv Sabharwal said, “The bank serves 1.5 million NRIs spanning 150 countries and processes over 5 million inbound transactions annually. With NRI Advantage we are confident that we will be providing our customers with a better value in the market.”
The product delivers a host of discounts for healthcare requirements, gifting family and friends, assistance for service needs and India—based shopping wants of NRIs, among others.
The test run will commence at Reliance Retail’s Freshpik store at Jio World Drive, Mumbai, and will eventually expand across the rest of the city depending upon user acceptance
'Nearby' will enable Paytm customers to get information about their nearest Paytm merchant.
Banks that provide these terminals to retail outlets will have to tweak them in such a way to allow both payments and cash withdrawals by customers.
ICICI Bank had blocked transactions through PhonePe on January 13 citing security concerns and said PhonePe was allowing users of only Yes Bank's UPI handle to make payments on its app.
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