Image Credit : CNBCTV18
On Tuesday, ICICI Bank revealed that its mobile banking app “iMobile Pay” have around 2 million customers from other banks. This digital platform was launched in December 2020 to facilitate individuals carry forward several transaction during the pandemic. Within five months of its service, the bank have achieved this milestone. This is almost a testimony for “iMobile Pay” on the wide acceptance of the people across the country.
The trends further suggests that the users are enjoying the features like ‘pay to contact’, bill payments and “scan to pay” offered by the app. This first-in-the-industry initiative came up with the significant convenience of interoperability. The app allowed its user from any bank to link their account to the app and commence to make payments or transaction digitally. Along with these, the app also provided its users access to the entire range of ICICI Bank services that includes saving account, home loan, credit card, personal loan among others.
Along with all the features offered by the app, customers seems to be more accustomed with ‘pay to contact’ feature. The users can conveniently send money either to a mobile number or a UPI ID of their contacts who are registered on any payment app or a digital wallet through this feature. In addition to these feature like ‘scan to pay’, bill payments, ‘check balance’ have also witnessed maximum usage. It is observed too that user are visiting the app on repeat for frequent transaction and are often increasing the value of transaction.
Bijith Bhaskar, head Digital channels and Partnership, ICICI bank commented,” ICICI bank has always believed in introducing innovations that simplify banking for customers . In the line with this philosophy, the bank was first to introduce a mobile banking app in the country in 2008, called ‘iMobile’. The bank has transformed the app and renamed it ‘iMobile Pay’ five months ago to offer interoperability so that anyone including customers from other banks, can experience benefit of hassle free payments and digital banking of ICICI Bank through this app. This was made possible by leveraging NPCI’s interoperable infrastructure. It delights us immensely that now more than 2 million customers from other banks are using the app to meet their daily financial requirements.”
He further added that the users are enjoying the apps features that allows one to make payments digitally in a safe and secure manner. “In addition many customers are entering into a new relationship with the bank after downloading the app. They are opening a savings account and applying for a credit card, home loan and personal loan among others. Going by the tremendous response received so far, we anticipate that more and more users will download the app in the coming days and experience the seamlessness it offers,” he added.
The app too experienced huge interest from people across the country. It has also gathered huge response from metro cities like New Delhi, Bengaluru, Chennai, Hyderabad, Lucknow, Patna, Jaipur, Ahmedabad among others.