ICICI Bank Ltd, India's second largest bank announced today an association with mChek, India's leading mobile payment solutions provider, to facilitate mChek services to all ICICI Bank Debit and Credit Card customers.
These are electronic cards issued to the customers with mChek application on their mobile phone.
The customer can use the mChek Visa Credit/Debit card to perform various transactions like bill payments (postpaid, other utilities), prepaid recharge, money transfers, pay insurance premiums, buy air tickets, movie tickets or perform any other merchant transactions using their ICICI Bank debit card or credit card account. The card data is stored in an encrypted format in the phone for a safe transaction.
Visa International, the leading international electronic payment network had earlier approved mChek as a platform to which the issuer can issue an electronic mChek Visa card to deliver the convenience of mobile transaction with added security.
Commenting on this initiative Mr.Sachin Khandelwal, Senior General Manager, ICICI Bank, said "Our association with mChek will offer our credit and debit card customers yet another secure and safe option of conducting hassle free transactions online".
Mr. Sanjay Swamy, CEO, mChek said, "We are pleased to launch mChek with ICICI Bank. This association hugely expands the transaction environment for both ICICI Bank and mChek. ICICI Bank customers now have the convenience of doing transactions from their mobile phones anywhere, anytime and with banking grade security".