ICICI Bank targeting to serve 20 lakh customers of rival banks through app, BFSI News, ET BFSI

Private sector lender ICICI Bank on Thursday said 10 lakh customers of rival banks are using its mobile application for transactions. The lender expects the number of such customers, who are using the app for instant UPI-based payments and recharges, to double in the next three months, the company said in a statement.

Its head of digital channels and partnership Bijith Bhaskar said the bank is using NPCI’s interoperable infrastructure to serve customers of other banks as well through its app called “imobile pay“.

Users like the ‘Pay to Contacts’ feature the most. The functionality enables users to send money either to a mobile number or a UPI ID of their friends/contacts, to any payment app or a digital wallet, it said.

Metros like Mumbai, Delhi, Bengaluru, and Chennai have contributed to the additions, while other large cities like Pune, Hyderabad, Ahmedabad, Jaipur, Lucknow, Patna, Indore, Ludhiana, Bhubaneswar, Guwahati, Agra, Kochi and Chandigarh have also contributed significantly to the growth of the number of users, it said.

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