Smartphones have an eminence presence in India. It is not a device just to click pics or listen music but it is a centroid of the major day to day operation. The power of smartphone has been foreseen by banks and hence the largest private sector lender bank of India, ICICI Bank has came up with a new and innovative method of payment for smartphones which constitutes a wallet which basically is a digital wallet which is available on Google Play. As of now the wallet is for android only but soon the bank will soon introduce it for the smartphones with operating systems as iOS & Windows.
The e-wallet app basically work like a wallet where you pour in money using your bank account/credit card/debit card. This money present in the wallet can be sent to your friends on their mobile, e-mail id, bank accounts or even the facebook friends. They will receive an autogenrated link which would redirect you to a secure landing page from where you can fill your bank details and get your money credited in the account.
The key points of the whole wallet systems are
1. Transaction limit of Rs.10,000 per month.
2. A physical card can be requested for the wallet ( it will be delivered within 24 hours).
3. Physical card can be used for retail outlets but cash withdrawal cannot be done from ATM
4. Very high security.
Steps to use the wallet :
1. Download the wallet from Google Play.
2. Create the account with email-id, address, name, mobile number.
3. You will recieve an OTP to create an account.
4. Use the account to send the money.
Kindly Note : Customers with non-ICICI Bank accounts will be charged NEFT transaction fees.