HDFC launches Chillr for money transfer via mobile

SRINAGAR: HDFC Bank Tuesday launched a mobile app Chillr to allow users to instantly transfer money to any contact in their phonebook round the clock.
In a press statement issued here, the Bank said it partnered with Kochi-based technology firm MobME to launch the app.
“Chillr allows users to send money in three simple steps—choose the recipient from your list of Chillr contacts, enter the amount to be transferred and a message to recipient, and enter your secret M-PIN and press PAY.
The recipient will instantly receive money in his/her bank account,” it said.
Chillr is a first-of-its kind application that is linked directly to a customer’s bank account, it said.
“There is no need to worry about filling up a prepaid wallet. No passwords are stored on the phone and it can be accessed only with an M-PIN known to the customer alone,” the Bank said.
With the app, the Bank said the customers no longer have to ask for account information and wait for a set period to add beneficiaries, if they wish to transfer money.
After downloading Chillr and registering with it, the customers can transfer money to any person in India, it said.
“The app is widely accessible as it works on Android and iOS operating systems.
It will soon be launched for the Windows phone as well,” it added.
The app, HDFC said, is particularly useful for college students and young professionals.
In the near future it will also allow users to pay utility bills and various merchants via the mobile, it added.
“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,” it said.
HDFC said it has also piloted the use of Chillr for its Sustainable Livelihood Initiative (SLI).
“Customer convenience is central to our concept of Digital.
This Chillr app will benefit various segments of people in the society.
From students to young professionals, from the migrant workers in cities to customers in rural India, this app gives the convenience to send and receive money using your mobile phone in secured manner,” Nitin Chugh, Head Digital Banking at HDFC, was quoted as saying at the launch ceremony in Bangalore.
“This app is one more important step by the Bank to leverage technology and digital to offer banking services anytime and anywhere,” he added.
Chillr is the latest initiative in HDFC Bank’s digital banking offering christened GoDigital, the Bank said, adding as of FY 2013-14, 55 per cent of all transactions at HDFC Bank are conducted through digital channels.