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HDFC Bank launches fund transfer through mobiles
New Delhi, May 08, 2008
HDFC Bank on Tuesday launched an array of banking and
commerce services over the mobile phone that would allow
customers to transfer funds, shop and make payments using
Ngpay - a mobile commerce network.
With this launch, HDFC Bank said it has become the first
bank in India to offer, on one single platform, a full suite
of services.
HDFC Bank customers who are registered for fund transfer
facility under the bank's net-banking 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,
told reporters here.
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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