· Association will enable customers to send money to anyone on their phonebook
· Instant money transfer app without the need for account details
· Send, receive money as well as pay your utility bills, any day, anytime
Hyderabad, March 11, 2016: Andhra Bank, a leading bank from Andhra Pradesh today announced its tie-up with mobile payment app Chillr. This association will allow the bank’s customers to instantly transfer money to any contact on their phonebook. Chillr, a first-of-its kind application, is directly linked to the customer’s bank account wherein the user can transfer money to any person in India, once he/she downloads the app and registers. The app is easy to use and is available on Android, Windows and iOS operating systems.
M.N Sudhakar, General Manager, Andhra Bank commented, “We are pleased to join hands with Chillr and look forward to offering this innovative platform for easy money payment and fund transfer services to our customers. At Andhra Bank, we recently adopted IMPS technology as well and both these facilities will help our customers make payment/fund transfer within fraction of seconds and will aid us serve our customers better.”
Currently the integration is in its pilot phase where the functionality is being tested out with the bank employees and a few select users. The official launch will happen soon this month.
Apart from sending and receiving money, the bank’s customers can enjoy a host of other features like special discounts with specific merchants, recharging prepaid mobiles, DTH and data cards, splitting of bills between friends/colleagues as well as a quick means of checking one’s account balance.
Sony Joy, Founder and CEO, Chillr stated on the development, “The state is undergoing and welcoming digital transformation with open arms. We are delighted to have Andhra Bank on board as our bank partner and enter this region through a bank of this caliber. With digital banking gaining momentum amongst youngsters, we aspire to create a cashless economy through the Chillr platform. Through this brand synergy, we hope to deliver seamless and fast money payment and fund transfer services to all its customers.”
Chillr is an offshoot of the Kochi based technology firm called MobME and a beta launch was introduced in February, 2015. Five lakh users have successfully linked their bank accounts through the app and more than 31 lac transactions have been made as of today.
The receiver instantly gets the money in his bank account when the sender chooses the recipient from his Chillr contacts, enters the amount and the secret M-pin (provided by the bank) and presses PAY. Chillr does away with the hassle of prior filling up of a prepaid wallet or saving of passwords.
Chillr is also an important tool for financial inclusion in rural markets, allowing migrant workers to remit money to family back home in a secure manner. Chillr aims to tie up with 30,000 merchants and on-board 15 leading banks by end of March 2016.