The ICICI Bank ‘Pockets’ is India’s first digital bank for the youth, the first offering of which is a mobile wallet. Anyone, including those who are non-customers of the ICICI Bank, can easily download the e-wallet from Google Play Store, fund it from any bank account in the country and start transacting immediately, informed ICICI Bank officials at a Press conference here on Wednesday.
It has already garnered over 3.6 million downloads within a year of its launch with more than 75 per cent of them being non-ICICI Bank customers, they added.
It is a unified offering on the mobile phone which combines banking transactions, non-banking transactions, e-commerce payments and social integration.
The wallet allows users to instantly send money to any e-mail-id, mobile number, friends on Facebook and bank account. Users can pay bills, recharge mobiles, book movie tickets, order food, send physical & e-gifts, split and share expenses with friends by using this e-wallet. It requires no documentation or branch visit.
The ICICI Bank currently ranks first in mobile banking having clocked transactions worth over Rs10,577 crore in December, 2015 as per the RBI data.
ICICI Bank Managing Director and CEO Chanda Kochhar said, ‘Nowadays, youth wants everything instantly and this can be possible through Mobile Wallet App. We believe that Pockets will help shape the future of digital payments in the country.’