With Pockets application, customers are allowed to split and track group expenses and share them with friends on Facebook, to transfer funds to their friends without knowing their bank account details like account number, bank branch, branch IFSC code or recharge their prepaid mobile. Also, through this application, a customer can open fixed or recurring deposit, order a cheque book, stop a cheque payment and upgrade debit card.
A customer can access the application by logging in with his/her Facebook user ID, then going to the official ICICI Bank Facebook page and clicking on the tab Pockets by ICICI Bank. He will have to register for the application by entering his/her existing debit card number along with PIN number. This will add the application to user’s profile under the section “Apps”. During the registration process, the user has to select a new four digit PIN, which can be used for subsequent logins.
Pockets application uses 128 bit encryption, it runs on https and the registration of an account is based on the customer’s debit card number and PIN authentication. Also, for each transaction, there is a unique dynamically generated OTP (One Time Password) that is sent to the customer’s registered mobile number to verify that the transaction is initiated by the customer.
In recent news, Movida, the mobile payments joint venture between Visa and Monitise, has closed a deal with ICICI Bank to use Movida’s mobile payments service for the bank’s customers.
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