ICICI Bank launches interoperable banking app 'iMobile Pay'. Here's how to use

ICICI bank on Monday launched a new version of its mobile payment app which is interoperable and allows payments and other banking services to customers of any other bank. According to a statement by the bank, the latest version of the app is called iMobile Pay, through which customers of other banks can link their bank account, generate a UPI ID and start paying, shopping, transfer funds to any bank account or to any other payment apps or digital wallets; or bill payments and online recharges, among others. 

The app also offers instant banking services such as savings account, investments, loans, credit cards, gift cards, and travel cards, among others.

Claiming it to be a first-of-its-kind facility, the bank said the app also provides interoperability as customers no longer have to remember the UPI IDs of their contacts, and can transfer money across payment apps and wallets.

“We have always been at the forefront of introducing pioneering innovations, including the country’s first mobile banking app, iMobile, in 2008.

With the new version of the app, a customer of any other bank can link all their bank accounts to this app even as they bank with any bank,” the statement said.

Here’s how ICICI bank account holders can use the app

1. Download the ‘iMobile Pay’ from the Play Store and set up a four-digit log-in PIN. You may also use fingerprint to login. The app will soon be available for Apple devices
2. On the welcome screen, tap on ‘link account’ and enter the required details to link the savings account of any bank. Users can also link multiple bank accounts
3. Upon successful linking of the account/s, a UPI ID will be generated, which can be used to start making transactions. The UPI ID generated will remain the same for all the linked bank accounts. Users can simply select the account of their choice while making a transaction

Latest Business News