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Swiggy in Partnership with ICICI Bank Launches an Industry- First Instant Digital Wallet, ‘Swiggy Money’

Swiggy ties up with ICICI BankSwiggy has launched its own digital wallet, ‘Swiggy Money’ in partnership with ICICI Bank to enable a ‘single-click checkout experience’ on its platform. It is an industry- first instant digital wallet. The Swiggy Money is powered by ICICI Bank’s ‘insta wallet service’ which is built on a cloud platform with Application Programming Interface (API)integration.

Gist about the digital wallet

Usage 

i.Swiggy customer can immediately use the wallet if he/she is an existing ICICI Bank customer.

ii.Non-ICICI Bank customers can also use this instantly after providing details of government ID to ICICI Bank

Benefits for users 

i.Discounts &Instant withdrawal-The users can avail discounts & withdraw money instantly  and use the money for easy checkouts and hassle-free payment processing on future food orders

ii.Top up-They can top-up their wallet using various banking instruments and can purchase through single click  without multiple authentications.

iii.Split-Pay option– If the order value exceeds the wallet balance,  the users will be  given a ‘split-pay’ option. With this option the users can make payment through a combination of money from their wallet and another payment source/instruments to complete the transaction.

Key info

This service is enabled for restaurant orders & will be soon available for paying orders made through Grocery, Genie, and POP offerings

Note– For ICICI bank it is the 3rd offering, alongwith with Swiggy. Ola and Amazon India have also adopted a ‘digital wallet’ strategy.

About ICICI bank:
Headquarters– Mumbai, Maharashtra
Managing Director & Chief Executive Officer (CEO)- Sandeep Bakhshi

About Swiggy:
Headquarters– Bengaluru, Karnataka
Co-Founder– Sriharsha Majety