Several apps allow to pay or transfer cash without account number ,often requiring’ mobile number , recipient email id and friends on facebook,twitter,What’s app’ .Makes it easy to pay straight to another account.These services are free,secure and fast.Its known as peer to peer services and are useful in number of situations.
Most of the bank have started these services “Pockets by ICICI bank (icicibank.com/pockets) ,Pingpay of Axis bank (www.axisbank.com/pingpa), Chillr of HDFC bank (hdfcbank.com/chillr), Kaypay of Kotak mahindra Bank.These are the Indian bank sites.These type of applications help to shape the future of digital payment in the country.The sender and receiver can select any bank out of 28 for transfer of cash.
Pockets of ICICI allow the users to fund the cash from any bank account in the country and transaction is done immediately .No branch visit or documentation is needed.It allow any individuals to download from google play store and activate an e-wallet.Users can choose to add zero balance account to it.The transfer of cash is done by NEFT (National Electronic Fund Transfer) so the recipient has to wait for some time to receive the money.Users can send Rs 10,000 in a month.In Pingpay the sender can transfer Rs 50,000 in a day and in Chillr Rs 50,000 in a month.Both of these are IMPS service(Immediate Payment Service) so the cash will reach the recipients account immediately.Kaypay will allow to transfer only Rs 20,000 in a month its also a IMPS service so the receiver could get the cash as much as possible.
‘In Pingpay , Pockets and Kaypay allow users to transfer the cash with SMS, Email id,Facebook,What’s app,Twitter.Chillr app only allows to transfer through mobile numbers.The recipient gets a link when transaction is finished and must click on the link to get the money.Accept Chillr all other 3 are free services.
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