India-based banking group ICICI Bank announced on Monday the launch of its iMobile Pay app. ICICI Bank claims that iMobile is India’s first app that offers payments band banking services for all.
“The app offers a unique combination of facilities of a payment app– such as enabling customers to pay to any UPI (Unified Payments Interface) ID or merchants, pay bills and do online recharges among others– with instant banking services namely savings account, investments, loans, credit cards, gift cards, travel cards and much more. The users of ‘iMobile Pay’ can also transfer money to any bank account, payment app and digital wallet.”
iMobile also offers the feature “‘pay to contacts,” which enables users to automatically see the UPI IDs of their phone book contacts, registered on the ICICI Bank UPI ID network, of any payment app and digital wallet. The functionality provides users a significant convenience of inter-operability, as they no longer have to remember the UPI IDs and can easily transfer money across payment app and digital wallet. While sharing more details about the app, Anup Bagchi, Executive Director, ICICI Bank stated:
“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. In line with this rich tradition, we introduced the country’s first mobile banking app, iMobile, in 2008.”
The key features of ‘iMobile Pay’ are:
- Open for all: ‘iMobile Pay’ enables customers of all banks to download this app and experience the quick transactions backed by best-in-class security features
- Acts like a payments app: It allows customers to scan a QR code of any payments app and send money to any UPI ID, bank account, self. It helps the users to transfer the money instantly to anyone free-of-cost.
- Offers banking services: It also acts as a gateway for the customers to begin a new relationship with ICICI Bank.
- Enables users to link multiple bank accounts: Users can transact using any of these linked accounts with a single UPI ID which is generated at the time of linking the first account.
- Lot more to be added soon: The list of forthcoming exciting features include users can pay utility bills, recharge mobile phones, check CIBIL score, book travel tickets, buy travel and gift cards, invest in an FD, RD, mutual funds and insurances.
