Axis Bank Offers P2P Payments with Ping Pay (May 21, 2015)
Customers of India’s Axis Bank are now able to send money to each other through Facebook, messaging apps Twitter and WhatsApp, email and phone contact lists using Ping Pay, a multi-social media app developed by Fastacash, a Singapore-based social payments vendor. The app, now available on Android-based devices and iOS phones in coming weeks, also enables customers to top-up their phones.
Up to 50,000 rupees (US$786.81) per day can be sent to any bank account holder. Non-Axis bank customers can receive funds and top up their phones, but they cannot send money. Consumers choose a social or messaging channel, select the name of the recipient and enter the amount of money to be transferred. When the transaction is confirmed, the money is immediately sent and the recipient gets a message via the selected channel.
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