Indian leading multinational banking and financial services company, ICICI Bank, on Monday launched a new version of its mobile payment app which is interoperable and allows payments and other banking services to customers of any other bank.

The latest version of the bank's mobile banking app is called iMobile, which extends the ambit of mobile banking apps, are till now restricted to only the customers of the respective banks. At the same time, ‘iMobile Pay’ eliminates the need to maintain multiple apps as it empowers customers to undertake all transactions. In the process, it also offers compelling reasons for users to link their multiple bank accounts to this app.

The latest version of the bank's mobile banking app is called iMobile Pay, through which customers of other banks can link their bank account, generate a UPI ID and start paying, shopping, transfer funds to any bank account or to any other payment apps or digital wallets; or bill payments and online recharges, among others, ICICI Bank said in a statement.

The app also offers instant banking services like savings account, investments, loans, credit cards, gift cards, and travel cards Et al. Claiming it to be a first-of-its-kind facility, the bank said the app also provides interoperability as customers no longer have to remember the UPI IDs of their contacts and can transfer money across payment apps and wallets.

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