Anil Urs Axis Bank’s new payments feature with WhatsApp is currently undergoing integration after beta version trials, said Rajiv Anand, Executive Director - Retail Banking, Axis Bank.
“We had partnered with WhatsApp. Now, after initial tests, full-fledged trials are being carried out. Once done, it will allow people to send money to other WhatsApp users directly,” he added.
The bank similarly has been working out various payment options with Google, e-commerce major Amazon, and taxi-hailing companies Ola and Uber.
Axis Bank is an early mover in UPI services, said Anand. “Payments have always been at the core of our business priorities and it is good to note that consumers continue to embrace the various digital modes of payment.”
He further said: “We have always taken the lead in helping customers in their ‘digital journey’ through our sustained commitment towards safe, convenient and innovative digital channels.”
According to Anand, Axis Bank continues to invest in newer cashless and digital payment methods, which would help get a larger population to embrace digital payments. AxisPay UPI has also witnessed over 10.4 million registrations since its launch, accounting for over 65 lakh Virtual Payment Addresses (VPAs).
The bank’s focus on cards, both credit and debit, also continues to remain high with Axis continuing to be the market leader in installing ‘card-acceptance terminals’ — as of Q3 FY18, the number stood upwards of 4,79,200.
Mobile spends
The bank’s mobile banking spends touched ₹51,030 crore in Q3 FY18, increasing 71 per cent year-on-year (YoY), reinforcing the bank’s commitment to accelerate the Digital India agenda.
“Equally compelling is to note that over 66 per cent of the bank’s transactions were made through digital modes in Q3 FY18 as against 52 per cent in Q1 FY17,” said Anand.
‘Thought factory’
Anand said Axis Bank’s commitment towards providing a congenial environment for the start-up community has been exemplified through its ‘Thought factory’ located in Bengaluru.
“This is an innovation lab which empowers and provides a platform for start-ups to expand and create avenues with investors and companies.”