ICICI Bank, India’s largest private sector lender, has launched a new in-store payment service based on mVisa, a new mobile payment application from Visa.

The service will enable users to make electronic payments from their smartphones at physical stores, e-commerce and other deliveries at home, radio taxis, and utility billers, among others.

With this service, users of ‘Pockets’, ICICI Bank’s app, can make cashless payments from their smartphones using their debit card by simply scanning a ‘mVisa’ Quick Response (QR) code at a merchant location without swiping the card at an EDC machine, the bank said in a statement.

To use this facility, a customer is simply required to click on the ‘mVisa’ icon on the home screen of the ‘Pockets’ app. The app automatically activates the camera in the phone, allowing customers to scan the QR code and enter their debit card PIN.

To start with, the bank has launched this facility in Bengaluru with 1,500 merchants and plans to extend it to other cities shortly.

ICICI Bank executive director Rajiv Sabharwal said: "We believe the simplicity of this technology will allow us to address this market gap and enable digital payments for an array of untapped categories such as home deliveries, cab services, and small merchants."

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Visa group country manager, India and South Asia TR Ramachandran said: "The mVisa solution will enable consumers to engage in secure and convenient payments, and more easily access funds in their existing bank accounts to make everyday purchases and pay utility bills."