ICICI extends m-banking service, launches fee for m-payments

India’s largest private sector lender ICICI Bank is to start
charging customers to transfer funds from their mobile phones.

Each mobile transfer will incur an INR5
($0.10) charge for ICICI customers from 1 April, a service
currently offered free of charge.

For other retail banking charges ICICI will
charge on a monthly as opposed to quarterly basis from April.

ICICI has been among the most enthusiastic
banks in India in promoting the use of mobile banking and
payments.

At the end of February, ICICI extended the
range of mobile banking services offered.

ICICI’s flagship mobile banking app, iMobile,
launched in 2008 and is now available for iPhone, Android,
Blackberry and Symbian mobile platforms. The service now also
allows customers to book tickets for rail, air and movies from
their mobile handsets.

Over 16.5m ICICI customers have been issued
with pin numbers enabling them to use the bank’s mobile payments
service.

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