EMI FOR UPI Payment: ICICI Bank has introduced an easy equated monthly instalment (EMI) facility for UPI payments made by scanning a QR code. The bank made this announcement in a press release dated April 11, 2023. Customers eligible for the Bank's 'buy now, pay later' service 'ICICI Bank PayLater' can now avail of the EMI facility for UPI Payments in an instant, easy and seamless manner. The transaction amount should be higher than Rs 10,000 to convert it into EMIs. There will be three instalment options available to ICICI Bank users - three months, six months, and nine months. This first-of-its-kind facility provided by the lender improves the affordability of lakhs of the Bank's customers as they can now instantly buy goods or services just by scanning the required merchant QR code at a store and making payments in EMIs. The facility can be availed across a series of categories like electronics, groceries, fashion apparel, travel and hotel bookings.