ICICI Payment Gateway: All You Need To Know 

ICICI is one of the largest private banks in India. One of the most useful financial solutions it provides is an advanced payment gateway that allows merchants to accept payments from their customers in a swift and hassle-free way. In this blog, we will discuss everything you need to know about the ICICI payment gateway. Keep reading!

What is ICICI Payment Gateway?

ICICI payment gateway is a result of collaboration between ICICI bank and First Data. Both institutions allied in 2009 to create an advanced payment solution for businesses and enterprises of all sizes and types. First Data IMS enables online merchants to make their payment processing system more secure and convenient. In other words, ICICI Payment Gateway offers a complete banking solution to fulfill all the online payment requirements of your business. This payment gateway is easy to install, easy to operate and doesn’t require a lot of maintenance. Further, it comes with advanced security features like 128-bit SSL encryption. Another good thing about this payment gateway is that it is highly flexible, you can easily integrate and customize it according to your business requirements. 

Payment Options Offered By ICICI Payment Gateway 

IMS payment gateway by ICICI allows your customers to make payments via multiple payment options like credit cards, debit cards, UPI, internet banking, recurring payments, and so on. Further, it also lets your customers pay in installments via the EMI option through several banks in India. 

Features of ICICI Payment Gateway 

ICICI payment gateway comes with a wide array of features. Some of them are as follows:

  • Hassle-free Online Payment Experience: ICICI is bundled with features that make online payment processing safe and convenient. From seamless integration, and mobile optimization to features like multiple payment options, multiple language support, Netbanking, and IVR payments, it is one of the best payment solutions online merchants can have. 
  • Advanced Payment Features: With the ICICI payment gateway, you get numerous payment features like one-click checkout, PCI-DSS compliance, intelligent retry for more conversions, OTP-based payments, and many more. 
  • Multi Bank EMI Option: It facilitates your customers to make payments in installments by opting for the EMI option. They can use this option with multiple Indian banks for easy payments that can be extended up to 3, 4, 6, or 12 months. 
  • Dynamic Currency Conversion (DCC): Using this feature, you can operate your business on a global level by allowing your international customers to pay in their local currency.
  • Advanced Merchant Portal: ICICI payment gateway also comes with an advanced merchant portal that allows business owners to monitor and analyze their payment processing environment under one screen.

How do ICICI Payment Gateway Settlements Work?

Here is how settlements and payments work in the ICICI payment gateway:

  • Once your customer adds their desired production to the cart and moves to the checkout page, they add their payment details to the payment form and submit it. 
  • ICICI-First Data then makes sure that the information provided by your customer is accurate and that they have sufficient balance in their bank account. 
  • Once this verification is done, an authorization code is generated which deducts the mentioned balance from the customer’s bank account. In case of insufficient balance, the payment is declined. 
  • ICICI payment gateway then provides the merchant with settlements daily along with reconciliation reports.

ICICI payment gateway is one of the most sought-after payment processing solutions in the Indian market. It makes payment processing seamless and secure for both Indian merchants and customers. If you haven’t integrated a secured payment gateway with your business, it is the best time to do so.