Swiggy today announced that it has partnered with ICICI Bank to bring two innovative digital solutions which makes it convenient and hassle-free way for its delivery partners to transfer funds to Swiggy. The payment solution also includes Unified Payment Interface (UPI) for instant fund transfers and other is an option facilitating cash deposits at automated Cash Deposit Machines (CDM) that will be available at ICICI Bank branches and ATM locations across the country. This move is aimed at enabling thousands of Swiggy’s delivery partners to save time and distance traveled for any sorts of financial transactions. The UPI base payment solution will offer a secure, scalable, and reliable way to enable collection of funds from its delivery partners. ICICI, on the other hand, has launched the UPI for online & offline merchants in August 2016 Swiggy’s delivery partners will have their own UPI handle (VPA), which can be used to link their savings bank account and start transacting by using any UPI-enabled app like ICICI Bank ‘Pockets’, ‘BHIM,’ ‘Google Tez,’ ‘PhonePe,’ ‘Paytm.' Once the transaction is complete from one end, ICICI Bank will credit the beneficiary’s (Swiggy’s) account instantly as well as send the delivery partner’s details to Swiggy along with immediate confirmation of the transfer. Swiggy ...
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