UPI is one of the most popular payment methods in India. UPI transaction numbers and transaction values are steadily increasing in India. The availability and increase in adoption of UPI Lite has only furthered this trend. At a time when UPI’s popularity is soaring in the country, Zomato has introduced Zomato UPI in India. Also Read - Paytm Wallet is now acceptable on all UPI QRs
The service has been launched in partnership with ICICI Bank and it and it will enable Zomato users in the country to make direct payments to both individuals and merchants. Simply put, with this service, Zomato users in the country will be able to make payments for their food purchases on the platform more seamlessly without switching to another payment platform such as BHIM, PhonePe or Google Pay. This, in turn, will streamline the process and make payments significantly faster. Also Read - UPI Lite to be available on iOS in the two-three weeks: Paytm's Shreyas Srinivasan
As per reports, the online food-delivery company has introduced this new feature in a bid to to decrease its dependence on external payment platforms while reducing the usage of Cash on Delivery (CoD) orders. Also Read - Paytm launches UPI Lite for faster transactions: How to use
Furthermore, this transition could potentially affect the operations of Paytm and Google Pay, as the creation of a Zomato UPI account does not involve completing a KYC process.
Zomato, in a support page said that Zomato users can apply for Zomato UPI by downloading iMobilePay app. The company also said that Zomato users can also link other bank accounts with Zomato UPI if they don’t want to create a fresh UPI ID.
“The User may apply for UPI Facility by downloading iMobilePay, Pockets application or through TPAP. On iMobilePay, User will have an option to set a virtual payment address and initiate transaction via UPI. In Pockets, if User is adding an ICICI Bank account, it will have an option to set a virtual payment address for that account and start transacting using UPI,” Zomato wrote on the support page.
“User can link other bank accounts through a one-time registration process defined and standardized by NPCI and then start transacting on that,” the company added.
It is worth noting that Zomato UPI is in the pilot stage at the moment and so it is available to select users at the moment. Zomato will gradually roll out this service to all its users.
Meanwhile, if you are one of lucky one who has received access to Zomato UPI, here’s how you can use it.
How to use Zomato UPI
Step 1: Open Zomato app on your device.
Step 2: Go to the profile section of your Zomato account.
Step 3: Scroll down to Zomato UPI feature.
Step 4: Now, tap on the ‘Activate Zomato UPI’ option.
Step 5: Choose your preferred Zomato UPI ID.
Step 6: Select your mobile number.
Step 7: Connect your bank account.
