HDFC Bank launches fund transfer on mobile network NGPAY

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Posted: Tuesday, May 06, 2008 at 1315 hrs IST
Updated: Tuesday, May 06, 2008 at 1315 hrs IST

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Bangalore, May 6: : HDFC Bank on Tuesday launched fund transfer on mobile commerce network, NGPAY.

With this launch, HDFC Bank said it has become the first bank in India to offer, on one single platform, a full suite of banking and commerce services over the mobile including accessing bank accounts, shopping, ticketing, and payments.

HDFC Bank customers who are registered for fund transfer facility under the Bank's NetBanking services can download the NGPAY application on their mobile handsets and begin transferring funds immediately.

"Fund transfer will happen in real-time between two HDFC Bank accounts and within 48 hours when transferring to a non-HDFC Bank account", Rahul Bhagat, Country Head – Retail Liabilities, Marketing & Direct Banking Channels, HDFC Bank, said.

ngpay CEO Sourabh Jain, said starting next month, HDFC Bank customers will also be able to buy and sell units of different HDFC Mutual Fund schemes through NGPAY.

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