Making a foray into the mobile payments and shopping segment, India’s private lender HDFC Bank has launched PayZapp. Using this smartphone app, customers can carry out multiple activities, such as paying bills, transfering money, shopping and keeping a tab on their cards.
HDFC has compiled a list of 15 online merchants since the launch and plans to increase this number to 10,000 in the next 45 days to improve the customer experience.
In PayZapp, a smart drive will help you complete the online shopping or payment process. This application does not require any credit or debit card numbers or security codes. Further, there is no pre-paid card restriction on daily or monthly limits and you don’t need to load money to pay.
“We want customers to come to us through PayZapp (with two-factor authentication) and we will take them everywhere. You don’t have to enter your information again and again (one click). With this we have covered purchases of all kinds of things that you want,” said Aditya Puri, Managing Director, HDFC Bank.
In the times to come, India’s biggest private lender wants to innovate and bring in new ideas, such as loyalty points, QR code-based payments, and contactless payment instruments to facilitate consumers and increase customer base.
HDFC Bank is focusing aggressively on developing apps that can enhance customer experience and satisfaction because the number of mobile transactions is increasingly rapidly. In March 2015 alone, HDFC Bank registered close to Rs 6,000 crore in transactions done through mobile phones.