ICICI Bank has launched the ‘iMobile Pay’ app, which presents payments and banking services for all. This app will not be restricted to ICICI Bank prospects only, and prospects of any bank can use this app. This is an on-line payment method app in line with Google Pay, PhonePe, and so forth.
The banking app iMobile Pay extends the ambit of mobile banking apps which are hitherto restricted to only the prospects of the respective banks. At the similar time, ‘iMobile Pay’ eliminates the have to have to preserve a number of apps—be payments or banking—as it empowers prospects to undertake all transactions. In the procedure, it also presents compelling causes for customers to hyperlink their a number of bank accounts to this app.
The ‘iMobile Pay’ app presents a mixture of facilities of a payment app– such as enabling prospects to spend to any UPI (Unified Payments Interface) ID or merchants, spend bills and do on-line recharges amongst others– with immediate banking services namely savings account, investments, loans, credit cards, present cards, travel cards and a lot a lot more. The customers of ‘iMobile Pay’ can also transfer revenue to any bank account, a payment app, and digital wallet.
Among other capabilities of the ‘iMobile Pay’ is spend to contacts which allow customers to automatically see the UPI IDs of their telephone book contacts, registered on the ICICI Bank UPI ID network, of any payment app, and digital wallet. The corporation says this functionality will deliver customers a substantial comfort of inter-operability, as they no longer have to bear in mind the UPI IDs and can quickly transfer revenue across payment app and digital wallet.
Anup Bagchi, Executive Director, ICICI Bank mentioned, “ICICI Bank has always been at the forefront of introducing pioneering innovations. These innovations have played a key role in transforming the way digital India banks.” He additional adds, “Now on, customers of any bank can experience the ease, speed, and safety of our mobile banking app. They can link all their bank accounts to this app. It means they can continue to bank with any bank and still use ‘iMobile Pay’ for all their digital transactions. Also, they can undertake all transactions, which they were so far doing through a gamut of payments app, through this app.”
Dilip Asbe, MD and CEO, NPCI mentioned, “This is yet another initiative that will inspire the ecosystem to integrate interoperability on digital platforms. UPI is known to provide seamless, secure, and convenient payment experience to its users and it is our belief that the large-scale adoption of UPI will strengthen the ecosystem and help in achieving the common goal of less-cash society.”
Some of the important capabilities of ‘iMobile Pay’:
- Open for all: ‘iMobile Pay’ enables prospects of all banks to download this app and knowledge swift transactions backed by most effective-in-class safety capabilities.
- Acts like a payments app: It permits prospects to scan a QR code of any payments app and send revenue to any UPI ID, bank account, self. It aids the customers to transfer the revenue immediately to any person no cost-of-price. Further, customers can spend utilizing the app at a host of establishments such as petrol pumps, grocery retailers, restaurants, pharmacies, hospitals, multiplexes, and a lot a lot more. One can also transfer revenue to any bank account, a payment app, or digital wallet.
- Offers banking services: It permits them to open an ICICI Bank savings account digitally and instantaneously, apply for a credit card at zero joining charge and get immediate approval for house/individual/car or truck loans.
- Enables customers to hyperlink a number of bank accounts: Users can transact utilizing any of these linked accounts with a single UPI ID which is generated at the time of linking the 1st account.
Here is how to use the app:
- Download the ‘iMobile Pay’ app from Google Play Store. Open it and set up a 4-digit log-in PIN. Users also have the selection of logging in utilizing their fingerprint. (Note that the app is restricted to Android customers as of now)
- Next hyperlink your accounts. On the welcome screen, tap on ‘link account’ and enter the expected specifics to hyperlink the savings account of any bank. You can also hyperlink a number of bank accounts.
- Then create your UPI ID. Once you have effectively linked your accounts, a UPI ID will be generated, which can be utilized to start off creating transactions. The UPI ID generated will stay the similar for all the linked bank accounts. Users can just pick the account of their decision, though creating a transaction.