ICICI Bank’s iMobile Pay used by one million customers of other banks

By Leandra Monteiro

According to ICICI Bank latest announcement, as many as one million customers of other banks have started using the new avatar of its app, ‘iMobile Pay’. The Bank has achieved the feat over the last three months since making the app available for those who were not the banks customers. Going forward, ICICI Bank anticipates that the number of users is likely to double.

To avail the services of ‘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. They can use the app to 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.

Mr. Bijith Bhaskar, Head- Digital Channels & Partnership, ICICI Bank said, “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 banking app, ‘iMobile’, in 2008. Three months ago, we transformed the app, which was called ‘iMobile’ into ‘iMobile Pay’. The objective of this endeavor 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 went on to add, “We are humbled to see that one million customers of other banks have started using our app which offers many industry-first, advanced features. We anticipate that the number of new-to-bank customers using ‘iMobile Pay’ will double in two months as it is registering wide interest from across the country.”

What ICICI Bank has noticed is that users like the ‘Pay to Contacts’ feature most. The functionality enables users to send money either to a mobile number or a UPI ID, to any payment app or a digital wallet. This enhances convenience in terms of transferring money. Other services that have maximum usage are features like Scan to Pay, Check Balance and Bill Payments.