Mumbai: ICICI Bank has officially stopped its PayLater service for UPI payments. This decision is now live for all customers. The service allowed people to make purchases and pay later using UPI. Many users found it useful for small and instant purchases.
The bank shared this update on its official website. The closure is part of its internal policy, with no outside reason or RBI rule mentioned.
What This Means for Customers
No more PayLater on UPI:
- You cannot use PayLater for any UPI transaction. This includes payments on iMobile Pay and other UPI apps.
- Repayment is still required:
- If you have used PayLater in the past, you must repay the balance as usual. The due dates and payment terms remain the same.
Monthly statements continue
You will still receive PayLater statements. This will help you track and repay your dues.
How to Repay Your Dues
ICICI Bank has shared easy steps to pay your PayLater dues:
- Use iMobile Pay or Internet Banking
- Log in to check your remaining balance.
- Make payments from your savings account
- Follow the same steps you used earlier to pay your dues.
Other Services Not Affected
The end of PayLater only applies to UPI use. Other ICICI Bank services such as credit cards, savings accounts, and loans are still working as usual.
What You Should Do Now
Open the iMobile Pay app or Internet Banking to check your PayLater balance.
- Pay any remaining dues before the due date to avoid late fees.
- Look out for updates from the bank on your PayLater account.
- For help, contact customer care online or visit a branch.
