Axis bank enables fund transfer via WhatsApp, Facebook and many more

By May 8th, 2015 AT 10:01 PM

Axis bank has taken banking to a social level, it now allows users to transfer money on the go. It is India’s third largest bank and from now on it has enabled users to send money through social platforms WhatsApp, Facebook, Twitter, e-mail and SMS, all these functions will be performed through a mobile-based application Ping Pay.

The Ping Pay app will enable user-to-user fund transfer of up to Rs 50,000 through National Payment Corporation of India’s Immediate Payment Service (IMPS). Users will be required to install the app in order to use the feature, and then for making the transactions they have to associate their Axis Bank account.

Axis BankWithin the application, users have to add the contact number of the recipient and fill in the amount that is required to be transferred. The receiver will then be messaged a link, after which they will have to download the Ping Pay app (in case they do not have the app) and enter the bank account details. After completing the process, the amount will be credited to the receiver’s account. It is not limited to Axis bank accounts only, as the receiver can be any bank’s account holder.

After the transaction is completed, the beneficiary will be given 15 days of time to claim the amount. In case the beneficiary fails to claim the amount, then the transaction will be reversed (money will be credited back to sender’s account). Presently, the Ping Pay mobile banking app has up to 58 functions, which will go up to 100 in a span of three months from now.

Read more on:

8
Leave a Reply

avatar
Photo and Image Files
 
 
 
5 Comment threads
3 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
7 Comment authors
anonymousAshwinFahadRanajitAnil Recent comment authors
newest oldest most voted
Ashwin
Ashwin

How is Axis bank third largest bank in India?The order is SBI,ICICI,HDFC bank and others after that.Axis Bank is not third largest

Ranajit
Ranajit

Which is a better overall bank – Axis or ICICI ?

Recent Posts

Indian Telecom Industry Slated to Report a Decline in Revenue for Third Consecutive Year: ICRA

The Reliance Jio-induced pains for the telecom sector will continue with the industry slated to report a decline in revenue...

Redmi Note 7 Pro Users in India Get New MIUI 10 Global Stable Update That Optimises System Stability

Xiaomi launched the Redmi Note 7 and Redmi Note 7 Pro smartphones in India last month. It is not even...

Vodafone Super VoLTE: Availability, Compatible Handsets and Everything You Need to Know

Bharti Airtel followed on the footsteps of Vodafone as it introduced the VoLTE for roaming a few days back. The...