Indian Bank rolls out UPI app
Indian Bank has introduced a few technology products, including one that aims to tackle transactions with ease, following demonetisation.
The Chennai-headquartered public sector bank has joined the list of banks that have rolled out UPI (Unified Payment Interface) app.
The app will enable Indian Bank customers to send and receive money using their smartphones. UPI is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing and merchant payments, according to a statement.
It introduced USSD banking, under which customers and merchants can register their details through their mobile phone by calling *99*58#.
This unique platform will empower the customers to make payment directly to, among others, a mobile number and virtual public address without internet connection.
Indian Upi App Bank has also launched a home loan application tracker for customers. These initiatives were unveiled by Mahesh Kumar Jain, MD & CEO, and AS Rajeev, Executive Director, at the bank’s headquarters in Chennai on Monday.