ICICI Bank announced today that it has converted its state-of-the-art mobile banking app, iMobile, into an app that provides payments and banking services to customers of any bank. The app, referred to as “iMobile Pay”, offers a unique combination of features of a payment app, e.g. B. the possibility for customers to pay to any UPI-ID (Unified Payments Interface) or to merchants, to pay bills and to top up online – immediately banking services, namely savings accounts, investments, loans, credit cards, gift cards, travel cards and much more. IMobile Pay users can also transfer funds to any bank account, payment app, and digital wallet. Another outstanding feature of “iMobile Pay” is “Pay to Contacts”, which allows users to automatically view the UPI IDs of their phone book contacts registered in ICICI Bank’s UPI ID network, all payment apps and digital wallets.
Anup Bagchi, Executive Director of ICICI Bank, said of the initiative: “Now customers of any bank can experience the ease, speed and security of our mobile banking app. You can link all of your bank accounts to this app. This means that they can continue to bank with any bank and continue to use “iMobile Pay” for all their digital transactions. In addition, you can use this app to carry out all transactions that you have previously carried out using a payment scope app. We believe users will like this innovation as it gives them the unique advantage of payment apps and banking apps in one place. “
“We are pleased to support ICICI Bank in redesigning their UPI-equipped mobile banking app that is compatible with all other UPI-based payment apps. This is yet another initiative that will inspire the ecosystem to incorporate interoperability across digital platforms, “said Dilip Asbe, MD & CEO of NPCI.
How to get started
To get started with ‘iMobile Pay’, customers of any bank in the country can download the app, link their bank accounts instantly and generate a UPI ID (simply their mobile number, e.g. [email protected]) to use all the facilities .
The main features of ‘iMobile Pay’ are:
- Open to all: With ‘iMobile Pay’, customers of all banks can download this app and experience the fast transactions that are supported by first-class security functions
- Acts like a payment app: Customers can use it to scan a QR code from any payment app and send money to any UPI ID, bank account or to themselves. It helps the users to transfer the money to anyone instantly and for free. In addition, the app allows users to pay in a wide variety of facilities including gas pumps, grocery stores, restaurants, pharmacies, hospitals, multiplexes and much more. In addition, they can transfer funds to any bank account, payment app, or digital wallet.
- Offers banking services: It also acts as a gateway for customers to start a new relationship with ICICI Bank. You can use it to open a savings account with ICICI Bank digitally and immediately, apply for a credit card with no entry fee and immediately receive approval for personal / private / car loans.
- Allows users to link multiple bank accounts: Users can transact any of these linked accounts with a single UPI ID generated at the time the first account is linked.
- Much more will be added soon: The list of exciting features ahead includes users to pay utility bills, top up cell phones, check CIBIL score, book travel cards, buy travel and gift cards, invest in FD, RD, mutual funds, and insurance. You also get an expense tracker function that provides an overview of the expenses. All transactions are divided into specific categories so that you can keep track of their balances.
Here are the simple steps to use the app:
1) Download the “iMobile Pay” app from the Google Play Store, open it and set up a four-digit login PIN. Users also have the option to log in with their fingerprint. It is currently not available to iOS users.
2) Link Accounts: Tap Link Account on the Welcome Screen and fill in the required details to link a bank’s savings account. Users can also link multiple bank accounts.
3) Generate UPI ID: After the accounts have been successfully linked, a UPI ID is generated with which transactions can be started. The generated UPI ID remains the same for all linked bank accounts. Users can simply select the account of their choice while doing a transaction.
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