HDFC Bank on Tuesday launched Chillr, a mobile app that allows users to instantly transfer money to any contact in their phonebook.
The bank has partnered with MobME, a Kochi-based technology firm, to launch this app, said Nitin Chugh, Head of Digital Banking, HDFC Bank.
Chillr is a first-of-its kind application that is linked directly to the customer’s bank account.
With Chillr, HDFC Bank customers can transfer money to anyone in India, once they download the app and register themselves. The app works on Android and iOS operating system platforms and will soon be launched for the Windows Phone platform as well.
‘Important tool’ The app is useful for college students and young professionals. Parents whose children are studying away from home in other cities can transfer money via the app. Soon users will also be able to pay utility bills as well as to various merchants via the mobile, Chugh said.
Chillr, said Chugh, is 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 customers can carry out up to 10 transactions a day with a maximum limit of ₹5,000. The monthly limit is set at ₹50,000.
HDFC Bank shares closed marginally higher at ₹1,057.75 on the BSE on Tuesday.