PAYMENT WALLETS

Name – Gauri Pendharkar

Roll no. – BF024

POCKETS BY ICICI BANKIt’s a VISA-powered wallet that customer of any bank can use.

Pockets wallet also comes with a physical shopping card which can be used to shop on any website or retail stores.

Pockets is not just for ICICI bank customers. Even customers of any other bank can download and use it instantly.

To get started with Pockets you have to download the app, enter your basic details, verify your mobile number and create a user ID and password.

Incase you are an existing ICICI bank customer, your internet user banking ID and password is all you need to get started.

Features of Pockets mobile app

Prepaid mobile & DTH rechargeBill PaymentsSend moneySend giftsSplit your billsBook movie ticketsDeals and offersTouch & paymVisaOpen Pockets Savings AccountPockets using the Facebook app

Mandatory Login

Transaction OTP (two factor authentication) 

Single Login

Session timeout 

SMS alerts are sent for all transactions.

Security

Drawbacks

Not compatible with all android versions

error occurs while using features of the app

Problems while availing the deals and offers

Technical issues

Vodafone m-pesaVodafone is among the first 11 entities that have got the

Reserve bank of India's permission to operate as a payment bank.

m-pesa is an innovative mobile money digital wallet, which gives you the "power of money" on your mobile phone.

The telco now plans to tie up with different financial institutions to offer services such as micro investments, pension, insurance, and loans, which it cannot do alone under the rules of its new payments bank licence.

It has already tied up with the ICICI bank. The launch is line with the Bank's objective of achieving greater financial inclusion. 

What can you do with m-pesa?•Deposit money 

•Send money to any mobile number

•Send money to any bank account

•Prepaid Recharge 

•Postpaid bill payments 

•DTH Recharge 

•Utility Payments 

•Merchant Payment 

•Withdraw money 

Promotion and marketing strategyTV advertisement Vodafone is also promoting the concept of mobile money with On-Ground

Initiatives like the M-Power, roadshow rolled out in select cities to educate consumers and drive awareness on the ease and benefits of using mobile wallets.

As a part of this initiative, Vodafone targeted migrant pockets and engaged with them through live demonstrations, interactive sessions, facilitating on- spot registration and money transfer. Target Markets: Gujarat, Tamil Nadu, Delhi, Kerala, Kolkata, Karnataka, Andhra Pradesh, and Mumbai.

There is another activity called 'M-Powering women with M-Pesa' where Vodafone is organizing education camp in community slums in Bangalore, to teach women, working as domestic help or small business like Parlours, the importance of financial saving and how they can save using the M-Pesa mobile wallet.