India’s largest private sector bank ICICI on 10th February 2015, Tuesday, announced the launch of its e-wallet Pockets, first digital bank on a mobile phone. Pockets allow an individual to download and activate an e-wallet on a mobile phone.
To activate, it’s not necessary to be a customer of ICICI Bank. This means, it can also be used by those who are not customers of ICICI Bank.
Customers can download it from Google Play Store and fund it from any bank account in India and start transacting immediately. Users are not required to provide any document and not necessary to visit branches.
This e-wallet uses a virtual VISA card and can be used to store your money, for payments related to websites and mobile applications in India. Users can easily load funds into Pockets using any bank’s debit card or net banking.
Pockets allow users to send money to any mobile number, friends on Facebook, e-mail id and any bank account. It can also be used to recharge prepaid mobiles, pay bills, pay DTH, Pay data card recharge, online tax payments, book movie tickets, order food, split and share expenses with friends. Pocket’s e-wallet allow users to instantly send or request money to/from any e-mail id, mobile number, friends on Facebook and bank account.
How to download and activate Pockets
ICICI Bank’s e-wallet “Pockets” can be downloaded from Google Playstore. After downloading and activation, tap on Create an Account. Enter your basic details like name, mobile number,gender, email ID, address and date of birth.
You will receive One Time Password on the mobile number to create user ID and password. After creation, you need to load funds from any bank’s net banking account into Pockets and start using to pay bills, book movie tickets, recharge mobiles, order food, split and share expenses with friends etc.
At present its only available to android users. We hope that ICICI bank will soon be having same option for windows and iOS users.
Chanda Kochhar, Managing Director & CEO of ICICI Bank said, “Today’s youth wants everything instantly, on the go. ‘Pockets’ addresses this need by allowing anyone to open an account on their mobile phone in an instant and start transacting immediately. We believe that Pockets will help shape the future of digital payments in the country. We, at ICICI Bank, will continue to focus on innovations in technology to offer unique propositions that are simple, fast and convenient.”