HDFC Bank launches app for instant money transfer from phone

18th March 2015
HDFC Bank launches app for instant money transfer from phone
From left: Nitin Chugh, Head, Digital Banking, HDFC Bank; Dhiraj Relli, Branch Banking Head, HDFC Bank and Sony Joy, Co-founder and Director, MobMe Wireless Solutions at the launch of the Chillr app on March 17 2015

Bangalore, March 18, 2015: Leading in private sector  bank, HDFC Bank has  launched Chillr, a mobile app that allows users to instantly transfer money to any contact in their phonebook 24 hours a day, seven days a week.
HDFC Bank has partnered with MobME, a Kochi-based technology firm, to launch this app.
Chillr allows users to send money in 3 simple steps:
1. Choose the recipient from your list of Chillr contacts
2. Enter the amount to be transferred & a message to recipient
3. Enter your secret M-PIN & press PAY

The recipient will instantly receive money in his / her bank account.
Chillr is a first-of-its kind application that is linked directly to the customer’s bank account, so there is no need to worry about filling up a prepaid wallet. No passwords are stored on the phone and it can be accessed only with an M-PIN known to the customer alone.
With this app, customers no longer have to ask for account information and wait for a set amount of time in order to add beneficiaries if they wish to transfer money. They can send and request money directly on their mobile. HDFC Bank customers can transfer money to any person in India, once they download the app and register. The app is widely accessible as it works on Android and iOS operating systems. It will soon be launched for the Windows phone as well.|
The app is particularly useful for college students and young professionals. While dining at restaurants, customers, particularly youngsters can split the bill using this app. Parents, whose children are studying away from home in other cities can transfer money via the app. In the near future it will also allow users to pay utility bills and various merchants via the mobile.
Chillr is also an important tool for financial inclusion in rural markets, allowing migrant workers to remit money to family back home in a secure manner. HDFC Bank has also piloted the use of Chillr for its Sustainable Livelihood Initiative (SLI), a programme that reaches out to people at the bottom of the pyramid by providing them with livelihood finance and skills training. The participants running small businesses used the app to make payments to employees, avoiding the hassle of travelling to the nearest ATM to withdraw cash.

See an explanatory video for a few days in our Tech Video spot on the home page.

Link to download Android Chillr app