Using this feature, ICICI Bank customers can also request for an extension or reduction in their credit limit and take a look at the visual analysis of their spends across different categories.
ICICI Bank has launched a new security feature on its mobile banking platform – iMobile. Christened ‘Manage Card’, the feature – which the bank claims to be a first-in-the-industry for credit cards — gives customers the power to control the security of their cards right from their own phones at just the flick of a button, 24×7.
With the Manage Card feature, customers can now:
1. Temporarily block / unblock the card
2. Block / unblock online transactions
3. Block / unblock international transactions
4. Block / unblock ATM withdrawals
Additionally, using this feature, customers can also request for an extension or reduction in their credit limit and take a look at the visual analysis of their spends across different categories like food, entertainment and shopping among others. The minimalistic and easy to use interface on the iMobile app makes it even more convenient for customers to select the security control of their choice.
The new feature has been launched based on a study by the bank conducted to understand the various barriers and triggers involved in credit and debit card usage among its customers and non-customers. The study revealed some key bottlenecks that hindered the respondents from using the cards. These included fears pertaining to card security like loss of card, internet frauds and international frauds, among others.
The study further revealed that the apprehension pertaining to security also exists in the case of regular card users, bank said.