The second largest private sector lender, 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.
The latest version of the bank's mobile banking 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, ICICI Bank said in a statement.
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.