ICICI bank enhances mobile banking service

Enhanced Mobile Banking

India’s largest private sector bank now features instant 24/7 funds transfer and prepaid mobile recharge as part of its mobile banking service. ICICI life insurance customers can also pay insurance premiums from their phone. The services are carried out via SMS through the Interbank Mobile Payment Service (IMPS) and can be used on both standard and smartphones. No data is stored on the phone and all transfers are encrypted. More than 16.5 million account holders have thus far been issued with an MMID, the seven digit number needed to receive money through IMPS.

ICICI’s mobile banking app, iMobile, for iPhone, Android, Blackberry and Symbian has also been enhanced and now supports ticket purchases, such as rail, air and cinema tickets, through the smartphone.     


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