Mumbai: ICICI Bank announced the launch of 'Pockets', what the company claims is India's first digital bank. According to the bank, anyone, including those who are not customers of ICICI Bank, can use the e-wallet to instantly send money to any e-mail id, mobile number, friends on Facebook and bank account.
Pockets uses a virtual VISA card which enables the users to transact on any website or mobile application in India. Customers can also request for a physical card for use at any retail outlet. Users can also pay bills, recharge mobiles, book movie tickets, order food, send physical and e-gifts, and split or share expenses with friends.
One can also choose to add a zero-balance savings account to the wallet, which will allow them to earn interest on their idle money. The universal wallet and the savings account are the first two products to be launched as part of the 'Pockets' digital bank.
To use the service, one can simply download the wallet from the Google Play store, fill in the basic details, create a user id and password, load funds from any of their bank accounts and start transacting immediately.
Existing ICICI Bank savings account customers can simply use their Internet banking login credentials and authenticate the OTP sent to their registered mobile number to be able to use the wallet.
Users can also set up 'favourites' from their contacts, thereby allowing them to make payments quickly. Other features include hashtag expenses, split bill with friends and exclusive deals focused on the youth.
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