HDFC Bank launched PayZapp

HDFC Bank launched PayZapp, a payment solution that will revolutionize the way payments and purchases are done on-the-go today using mobile devices. Download this App and pay with ONE CLICK for all your spends, from mobile phone top-ups, to instant money transfers, to bill payments, to groceries, to even big-ticket purchases such as foreign holidays and designer clothes.

Within PayZapp is SmartBuy, a virtual mega marketplace that has every type of product available, from those that fulfill daily requirements to those that meet aspirational needs, just the way a mall has.

The launch of PayZapp and SmartBuy is the latest initiative in HDFC Bank's digital banking offering christened #GoDigital. It aligns with the Bank’s core digital theme of ‘Bank aapki muthi mein’, which places the power of banking in the hands of the customer. 

PayZapp + SmartBuy has the following unique features:

·         A. SmartBuy is a ONE-STOP shop on your mobile for all deals and offers by prominent e-commerce portals such as Flipkart, Makemytrip, Cleartrip, Yatra, Big Basket, and DTH and bill pay facilities.

·        B.  PayZapp is the country’s first ONE CLICK payment solution that ensures fast and easy checkout using a single PIN.

·        C.   In PayZapp, credit or debit card numbers and their security codes are not required to be entered with every purchase.

·        D.  In addition, PayZapp maps the device with the card number to determine authenticity of a transaction, thus enhancing security.

·          E. With PayZapp, users can transfer money instantly to anybody using mobile number, email ids

·         F.  In-app creation of NetSafe Virtual International Card

·         G.  No restriction on daily / monthly limits as payments are done through linked cards

Speaking about the new launch, Mr. Parag Rao, Business Head, Cards, Payment Products and Merchant Acquiring Services said, “PayZapp is pathbreaking. For the customer, whose world has now converged on his mobile device, this innovation will mean that he'll be able to do every type of payment and purchase from a single App with a single PIN, whenever and wherever he wants, without worrying about prepayment and re-loading. Like all our innovations, the genesis of this platform is customer convenience. As part of our Bank aap ki muththi mein initiative, this product is another major digital leap. In fact, the customer will find it is not only the #PowerofBanking which is in his muththi, but effectively the whole world.”

As of FY 2014-15, 63% of all transactions at HDFC Bank are conducted through digital channels.