On 10th February 2015, ICICI Bank launched Pockets, a digital bank. At the launch, MD and CEO of ICICI Bank, Ms. Chanda Kochhar said Pockets is a universal wallet and savings account which will enhance the digital payment system in India. It allows individuals to access their account on the mobile phone and start transacting immediately. Pockets has been designed with a youth-centric approach.
In addition to the online platform, this e-wallet can be used in its physical form at any retail outlet by the customers on special request. Listed below are the features of Pockets:
- The e-wallet can be easily downloaded from Google Playstore by any individual even if not a customer of ICICI Bank.
- It can be instantly activated for immediate transactions by getting funded from any bank account in India.
- It uses a virtual VISA card to enable transactions on mobile applications and websites.
- The e-wallet allows instant money transfer to bank accounts, mobile number, email id; bill payments or share expenses with friends.
- Users can select a zero-balance savings account, and earn interest on their idle money.
- It is a secure platform where only one registration is allowed on a mobile number and users need to authenticate on every login
Other unique features include personalized themes, setting up of favorites in contacts for quick payments, recharge and e-gifts, use of hashtag to view account statement and track expenses, etc.
To register for the wallet:
- Download Pockets from Google Playstore
- Click on ‘create an account’ and enter the details asked
- Enter the One Time Password (OTP) to create user ID and password
- Start transactions by loading funds into ‘Pockets’ using net banking or debit card
Existing ICICI Bank customers can register using their net banking login ids and load funds from any bank.