India’s largest private sector bank ICICI Bank has launched a Facebook app that can be used to carry out a bunch of banking services. The app, called pockets, is quite an interesting one.
You can use it to share expenses with your friends on Facebook, transfer funds to another account, create electronic coupons that can be redeemed by friends, recharge prepaid mobile and buy movie tickets. It can also be used to send messages to remind friends on pending payments.
With nearly 82 mn users on Facebook in India, commerce over the social network has been picking up. Customers can access the app by logging into the bank’s Facebook page and clicking on the ‘pockets by ICICI’ tab.
Users have to register for the ICICI Bank pockets app using their debit card number and PIN number. The user will have to select a new four digit PIN to be used for subsequent logins.
The company says that it is 128 bit encrypted. For each transaction, a one time password is generated.