Indian private sector lender ICICI Bank has launched a digital banking service, called Pockets, which according to the bank will enable users to instantly transfer money to any e-mail id, mobile number, friends on Facebook and bank account.
The service is available even for those who are not customers of ICICI Bank. The e-wallet can be downloaded from Google Playstore.
This wallet uses a virtual VISA card, which will enable the users to transact on any website or mobile application in India.
However, customers can also request for a physical card to use it at any retail outlet. It can be used to pay bills, recharge mobiles, book movie tickets, order food, as well as send physical and e-gifts, the bank said in a statement.
At the same time, users will have the option of adding a zero-balance savings account to the wallet, helping them earn interest on idle money.
To address security concern, the wallet incorporates a host of security features such as allowing only one registration for a unique mobile number, and asking mandatory authentication with user id and password for every login.
Users will be able to load funds into Pockets through any bank’s net banking or debit card.