Gurugram (Haryana), 17th May 2023: Online meal delivery platform Zomato has officially partnered with ICICI Bank to become a third-party application provider for Unified Interface Payment (UPI).
According to an Economic Times article, the Gurugram-based company is currently providing the service to certain consumers on its platform. Users will be able to make both merchant and peer-to-peer payments.
A Zomato spokesperson said, “Zomato has a large set of customers that frequently use UPI to make payments for their food orders…We are providing a facility (as technology partner to ICICI) for customers to create a UPI ID on Zomato app, so that they can make payments seamlessly without the need to switch apps.”
The UPI offers are part of an effort by the National Payments Corporation of India (NPCI) to lure significant consumer internet companies onto the network in order to minimise reliance on Walmart-owned PhonePe and Google owned Gpay, which currently lead the UPI transaction market share.
According to the article, which cites sources, e-commerce site Flipkart has also jumped on board and has begun work on UPI offerings.
The move intends to improve service for Flipkart and Zomato customers through their UPI offers.
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