Jamshedpur : ICICI Bank, India’s largest private sector bank, has added five industry-first features on its mobile banking app, ‘iMobile’, taking the total number of services that the users can avail of to over 165, the most in the industry.
The first-of-its-kind pioneering features enable the customers to enjoy the convenience of instant tax payment from within the app, book rail tickets, add an extra layer of security to their cheque based transactions with ‘Positive Pay’, apply for a personalised ‘Expressions Debit Card’ and purchase travel & motor insurance as well as mutual funds. These new features make ‘iMobile’ the most comprehensive mobile banking app by any Indian bank.
Secondly, on ‘Pockets’ by ICICI Bank – India’s first digital bank for the youth, the Bank has also unveiled the country’s first contactless mobile payment solution using the Host Card Emulation (HCE) technology.
ICICI Bank is the first financial institution in the country to leverage the HCE technology to bring forth this solution.
This technology creates ‘virtual’ cards for ‘physical’ credit or debit cards (Visa/MasterCard) of the Bank, as selected by the customer.
The virtual card resides in the Bank’s secure cloud server. While the virtual card bears a different card number, the credit limit and expiry date remains same as the original physical card.