Truecaller entered into money transfer and payment option through its iPhone app. The updated Truecaller app for iPhone has introduced money transfer, recharges and bill payments for Indian users. Truecaller has already launched the same for Android users last year in March. Truecaller Pay features will include instant money transfers, bill payments, and recharge. Truecaller Pay is integrated with India’s BHIM-UPI and claims that it has partnered with over 80 billers and increasing.
Truecaller has partnered with ICICI Bank to ensure bank-grade security. Truecaller Pay will allow users to create a Virtual Payment Address (VPA) to be used for any UPI-powered transaction. Users don’t need any specific bank account; if the user’s bank supports UPI, they can use Truecaller Pay.
Once user update to Truecaller iOS version 9.12, Truecaller Pay feature will be visible as an extra tab next to the Spam ID tab.
Truecaller had already added wise features like Request money to its Android version last year. It allows users to send notifications to another user who owes them money, reminding them of their debt.
Truecaller has already added over 150 million users by acquiring payments app Chillr last month. It has well over 300 existing partnerships to enable Truecaller Pay as a robust payment platform.