The third largest private sector bank of India Axis Bank, said today that it will soon be able to process payment through popular chat application Whatsapp. The bank called the Unified Payment Interface (UPI) a huge opportunity.
“We are the market leader in the field of innovation, and we believe that the UPA is a big opportunity,” said executive director of Axis Bank, Retail Banking, Rajiv Anand, “We are in the process of creating a differentiated environment for our customers. We are working with partners like Google, WhatsApp, Uber, Ola and Samsung Payments to be able to make the ecosystem to be able to pay customers.
As per the bank officials, Axis Bank enjoys 20 per cent market share in the UPA space. The amplification that the Google, -Tez is already successively and Anand answered in response to a question about Rollout Whatsapp, we are in the process of integration, currently the Whatsapp-beta version is operational, the full version is required, we are coming in next month or two.
The Axis Bank said that its mobile banking expenditure has increased to Rs 51,030 crore in the second quarter of FY 2018, which is 71 percent increase, strengthening the bank’s commitment to accelerate the ‘Digital India’ agenda is going. That It has been said that the 66 percent of the bank’s transactions were done through the Q3 Digital mode in Q3FY18, which was 52% in the first quarter of FY17.
The Bank officials, the Axis market has been high in establishing the ‘Card-Acceptable Terminal’ as well as the bank’s focus on both card, credit and debit. As Q3 FY18, the number stood above 479,200.
