ICICI Bank on Thursday announced that as many as 10 lakh customers of other banks have started using its app, ‘iMobile Pay’. The Bank has achieved the feat in a shade over three months after it made the app open for all to use, including those who are not its customers.
With this kind of response, ICICI Bank anticipates that the number is likely to double in two months.
Commenting on this achievement, Mr. Bijith Bhaskar, Head- Digital Channels & Partnership, ICICI Bank said, “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 banking app, ‘iMobile’, in 2008.”
“Three months ago, we transformed the app, which was called ‘iMobile’ into ‘iMobile Pay’. The objective of this endeavour was to offer customers of any bank the benefits of seamless payments and digital banking services through our app. We made it possible by leveraging NPCI’s interoperable infrastructure,” he added.
Users like the ‘Pay to Contacts’ feature most. The functionality enables users to send money either to a mobile number or a UPI ID of their friends/contacts, to any payment app or a digital wallet.
Therefore, it provides users significant convenience as they can easily transfer money across payment apps and digital wallets, compared to the existing practice wherein users are required to use a particular app to send money to a recipient using that app.
The other services such as ‘Scan to Pay’, ‘Check Balance’ and ‘Bill Payments’ have seen the maximum usage.
To start using ‘iMobile Pay’, customers of any bank can link their bank account with the app, generate a UPI ID and start paying to any UPI ID or merchants, pay bills, do online recharges and transfer money to any bank account, payment app and digital wallet.
In addition, they can open a savings account, apply for a home loan or credit card among other banking services of ICICI Bank.
‘iMobile Pay’ has evinced interest among bank account holders across the country. While it has recorded good traction from large metros like Mumbai, Delhi, Bengaluru and Chennai, other large cities like Pune, Hyderabad, Ahmedabad, Jaipur, Lucknow, Patna, Indore, Ludhiana, Bhubaneswar, Guwahati, Agra, Kochi and Chandigarh have also contributed significantly to the growth of the number of users.