ICICI Bank’s IMobile Pay used by over 1 crore other bank customers

ICICI Bank announces that its retail mobile banking app, iMobile Pay, has on-boarded over one crore customers of other banks.

ICICI Bank announces that its retail mobile banking app, iMobile Pay, has on-boarded over one crore customers of other banks. This significant achievement comes just over three years after ICICI Bank made the app open for customers of other banks.

ICICI Bank was the pioneer in launching mobile banking app in 2008, expediting the way for digital banking in India. In December 2020, it became the first bank to make the app interoperable by extending the benefit of its services to customers of other banks. Since then, customers of any bank can use iMobile Pay by following a few simple steps: link their savings bank account with the app, generate a UPI ID and enjoy a wide range of convenient services. These include making payments to any UPI ID or merchants, paying bills, recharging online and transferring money to any bank account, payment app and digital wallet. Further, users can also open a savings account, apply for a home loan or credit card among other banking services provided by ICICI Bank.

With over one crore customers of other banks using iMobile Pay, there has been 26% growth in the overall transactions value in this financial year till the end of February 2024 (April- February), compared to the same period last year. During this period, the average ticket size increased by 16%.

Commenting on this remarkable achievement, Mr. Sidharatha Mishra, Head- Digital Channels and Partnerships, ICICI Bank stated, “We have consistently aimed to innovate and simplify banking for our customers. The fact that our retail banking app has on-boarded over one crore customers from other banks in just three years is a testament to iMobile Pay’s significant role in providing seamless digital banking experiences. With iMobile Pay, we are revolutionising the way customers manage their finances and conduct transactions. We have built a simple, seamless, secure, and accessible banking platform that offers over 400 services, anytime and anywhere. We are thrilled to witness the widespread adoption and eagerly look forward to enhancing users’ banking convenience through continuous innovations.”