What if you run out of cash and need a fast and easy way to ask your
friends for money? Here’s a good news for you. After the announcement of
Facebook’s free money transfer feature via Messenger, now the social
networking company has decided to bring a similar functionality to its
instant messaging service WhatsApp.
Axis Bank, India’s third-largest private bank, has decided to bring
the easiness of instant money transfer to your friends via applications
like Facebook, WhatsApp, Twitter, or via email or SMS.
This is becoming possible with the help of Ping Pay service from the bank and is challenging its rivals HDFC Bank and ICICI Bank. Rajiv Anand, group executive, retail banking at Axis Bank said:
This friend-to-friend money transfer takes place via the Immediate
Payment Service (IMPS) of NPCI and currently Indian users can send up to
Rs. 50,000 per day to their friends using this service.
This is becoming possible with the help of Ping Pay service from the bank and is challenging its rivals HDFC Bank and ICICI Bank. Rajiv Anand, group executive, retail banking at Axis Bank said:
“This is the only application on
which you can send and ask for money. The transfer of funds is instant
while in other platforms there is a waiting period of 30 minutes to one
day.”
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