ICICI Bank launches app for Android, Apple smartwatches

ICICI Bank has launched iWear, a application for smart watches. This is available for Android watch users and can be downloaded from the Google Playstore. It will also be available on Apple watches.

A few days ago, HDFC Bank had said its mobile banking app will be available on the Apple Watch, which is yet to be launched in India. HDFC Bank’s mobile banking app has about 75 features and those commonly used will be available in the watch, such as balance enquiry, re-charge of pre-paid mobile phones, cheque book request, account statement as well as paying utility bills.

Rajiv Sabharwal, executive director, ICICI Bank, said transactions and account information will be available on the Apple device. "We are among the few players globally that will allow transactions through this application on both Apple and Android platforms. On Android, prepaid mobile recharge can be done, while on Apple devices, there is the facility of personal offers, bill payments, recharge and locator for branch and ATM apart from ability to view balance.”

He said wearable devices will play an important part to view and do simple transactions. Sabharwal added the app would be available as soon as the watch is launched. More features would be added later on, he added.

One can check one’s bank balance, view the last three transactions, and recharge prepaid mobile from the smartwatch. For Apple watch, features including checking balance for their savings, current and credit card accounts, view the past three transactions of savings and current account, recharge prepaid mobile, pay bills, locate ATMs and branches and personal offers will be viewable.

Users can download the ‘iWear by ICICI Bank’ from the Google Playstore. Once the registered mobile number is entered and a four-digit login PIN is put in, the user will receive a six digit one-time password on his or her registered mobile number. Later, one can login to the app from the mobile and do transactions via the smart watch.

The bank has also launched other solutions to reduce usage of cash. It has launched Unifare Card, which can be used as a smart card in metro stations along with the advantages of a credit or debit card. Once the balance in the card goes down, it is auto-recharged so that there is no requirement to stand in the queue at a station. ICICI Bank has launched this in Delhi, Bengaluru and Mumbai and will offer it once metro services begin in Hyderabad.

According to Sabharwal, there has been good growth in mobile banking transactions and that the band would become the largest player in retail mobile banking transactions. He added more customers would move to non-cash payment through cards or wearable devices when the banking regulator does away with two-factor authentication for small value payments.

Recently, the bank, in arrangement with Tech Mahindra, had launched a contact-less payment service called ‘Tap n Pay’ based on the Near Field Communications (NFC) technology. This payment service enables anyone (account holder of ICICI Bank or not) to make over-the-counter payments without using cash. It allows users to tap the NFC-enabled tag or mobile phone at the merchant’s point-of-sale device to make payments.