ICICI Bank launched Pockets, a digital bank on a mobile phone around five months ago, has been downloaded by over 3 million users within a few months of its launch. Over 75 percent of these users are non-ICICI Bank customers.
Stating this through video conferencing, Chanda Kochhar, managing director and CEO, ICICI Bank said, Pockets addresses the need of the youth who wants everything instantly in one go. It facilitates them to open accounts on their mobile phones in an instant and start transacting immediatel.”
The Pockets application is available for download from Google Playstore or Appstore, to both, customers and non-customers of ICICI Bank. Once downloaded, the wallet can be funded from any bank account in the country to be used for transactions immediately. Customers can also request for a physical card to use it at retail outlets.
The digital wallet allows the users to instantly send money to a wide array of contact points, including social profiles like: Whatsapp, Google+ along with mobile number and Email. Users can also pay bills, recharge mobiles, book movie tickets, send physical and e-gifts, split and share expenses with friends by using this digital wallet.
They can choose to add a Pockets savings account to the wallet, which will allow them to earn interest on their idle money, Kochhar said.