Online Payments via ICICI

Zoho Procurement’s integration with ICICI Bank enables your organisation to manage vendor payments with ease. After connecting your ICICI corporate current account, you can process vendor bill payments directly from Zoho Procurement.

Note:

This integration is available only for organizations in the India edition of Zoho Procurement created under the zoho.in domain.
Transaction charges, if any, are applicable as per the Schedule of Charges of ICICI Bank and may vary from one account to another. Zoho Procurement does not charge any additional fees for using this integration.

How Does Online Payments via ICICI Bank Work

To make vendor payments via ICICI Bank, you must first connect your ICICI corporate current account with Zoho Procurement. Once the integration is set up, ICICI Bank will be used as the funding source to make online payments.

When you make a payment via ICICI Bank, the payment is initiated from Zoho Procurement and processed by ICICI Bank using supported transfer methods such as ICICI Fund Transfer, IMPS, NEFT, or RTGS.

The time taken for your vendors to receive the payment depends on the chosen transaction type and bank processing times.

Set Up ICICI Integration

Prerequisites:

You have an ICICI Bank corporate current account with internet banking enabled.
You have the required corporate and user credentials for the ICICI CIB (Corporate Internet Banking) portal.
Multi-Factor Authentication (MFA), excluding Security Key and Passkey, is enabled for your Zoho account.

Note: This is a user-level integration and only the user who had set up the integration will be able to access or make payments using it. Deleting the user will disable the integration automatically.

Go to Settings in the top right corner of the page.
Click Vendor Payments under Online Payments.
Click ICICI Bank and then click Set Up Now.
If you already have an ICICI Bank corporate account:
- Enter your CIB Portal Login ID. If you haven’t created a login ID in the portal, enter it in the format: CorporateID.UserID.
- Enter your Corporate ID and User ID as shown in the ICICI CIB portal.
- Click Save to initiate the integration.
If you don’t have an ICICI Bank corporate account:
- Click Open a New Current Account under ICICI Bank.
- Enter your organization and contact details in the form that opens.
- Read and agree to the terms and click Proceed.
  An ICICI Bank representative will contact you to help you open a corporate current account and share the credentials required for the integration.
- Once you receive your credentials, return to Zoho Procurement and complete the setup using your Corporate ID and User ID.

Warning: Once you set up the integration with these credentials, you will not be able to edit them in Zoho Procurement. To change the credentials, you must disable the integration and set it up again.

After ICICI Bank verifies and activates the integration, your account status in Zoho Procurement will be updated to Active, and you can start paying vendor bills directly from Zoho Procurement.

Add Vendors’ Bank Account

Once the admin has set up the ICICI integration, vendors can add their bank account details in the Vendor Portal to receive payments via ICICI.

Vendors can add their bank accounts when they sign up for the Vendor Portal or from their profile in the portal. Once the bank account is added and verified, payments for their bills will be credited to that account.

Pay Vendor Bills via ICICI

To pay your vendor bills using your ICICI corporate bank account:

Go to Bills under Payables on the left sidebar.
Select the bill for which you want to make the payment.
Click the dropdown next to Record Payment and select Pay via ICICI.

Enter the following details:

Fields	Description
Balance Due	The total sum of money due for payment.
Amount	The Amount you would like to pay. You can choose to make complete or partial payments towards the bill.
From Account	The account from which you want to make the payment. Choose one from the list of bank accounts linked to Zoho Procurement or add a new bank account. You can also view your account balance and make it your primary account to make payments by checking the Make this primary option.
To Account	The account to which you would like to make the payment.
Transaction Type	The Transaction Type from the available fund transfer options such as ICICI Bank Fund Transfer, IMPS, RTGS, and NEFT. ICICI Fund Transfer: Transfers funds immediately to other ICICI Bank accounts (24/7). IMPS: Transfers funds below ₹5 lakhs instantly to all bank accounts (24/7). NEFT: Transfers funds to all bank accounts in batches during bank working hours. RTGS: Transfers funds exceeding ₹2 lakhs instantly to all bank accounts during bank working hours. You can make payments to vendors with ICICI bank accounts and other bank accounts.

Click Proceed.
Enter the OTP (One Time Password) sent to your registered mobile number.
Enter the Token generated from your ICICI Bank CIB portal (if required for authorizing the payment).
Click Submit to make your payment.

The status of your payment will be either Cleared or Uncleared in the Payments Made tab based on the transaction type and the approval workflow you’ve chosen.

Insight: A transaction will be in the Uncleared status after it has been initiated from Zoho Procurement and is awaiting processing by ICICI Bank. The status will change to Cleared once the payment is processed and the amount is deposited into the vendor’s bank account.

A few reasons for this include the approval workflow in the portal, the approver not approving the transaction, a bank holiday or transaction was initiated outside bank timings for NEFT/IMPS.

Multiple Bill Payments

You will be able to make payments for multiple bills at once to a single vendor using this integration. Here’s how:

Go to Payments Made under Payables on the left sidebar.
Click + New in the top right corner.
Select a vendor and all their associated bills will be listed.
Click Initiate Payment via ICICI Bank and enter the other details.
Verify your details and click Initiate Payment.
Enter the One Time Password(OTP) sent to your registered mobile number on the screen that follows.
Enter the Token, which is a unique 4-8 digit number used to initiate payments through your ICICI bank account securely.
Click Submit. The payment will be initiated from Zoho Procurement.

Vendor Advance Payments

Note: This feature is available only for organisations that have enabled GST.

Here’s how you can make vendor advance payments using ICICI:

Go to Payments Made under Payables on the left sidebar.
Click + New in the top right corner.
Navigate to the Vendor Advance tab.
Choose the vendor for whom you would like to make payment and select the option Initiate Payment via ICICI Bank.
Enter all the tax related details such as the Source and Destination of Supply, Reverse Charge, and TDS.
Enter the Amount to be paid.
Select the account from which you want to make the payment in the From Account option.
Select the To Account and the Transaction Type.
Verify your details and click Initiate Payment.
Enter the One Time Password(OTP) sent to your registered mobile number.
Enter the Token, which is a unique 4-8 digit number used to initiate payments through your ICICI bank account securely.
Click Submit. Your payment will be initiated.

Disable the Integration