CURRENT AFFAIRS

Detailed explanation-1: -ICICI Bank is the first bank globally to launch a mobile app based ‘mVisa’ solution for consumers and merchants.

Detailed explanation-2: -mVisa is a revolutionary payment method in which payments can be done using the smartphone. There is no need to produce a card at the merchant location for payment, or queue up at the ATM in order to withdraw or deposit cash. The customer just needs to scan the QR code and make the payment.

Detailed explanation-3: -Mumbai: ICICI Bank today announced that it has transformed its state-of-the-art mobile banking app, iMobile, into an app that offers payments and banking services to customers of any bank.

Detailed explanation-4: -ICICI Bank launched the country’s first contactless mobile payment solution to enable its credit and debit customers to make in-store contactless payments by just waving their smartphones near an NFC-enabled merchant terminal.

Detailed explanation-5: -Notes: ICICI Bank has recently launched a new mobile banking application named ‘iMobile Pay’, which can offer payments and banking services to customers of any bank. Through the app, customers can pay to any UPI (Unified Payments Interface) ID or merchants, pay bills and do online recharges among others.