This solution was developed by one of the winners of the bank’s app developing competition - ICICI Appathon. ICICI Merchant Services represents an alliance formed in 2009 between ICICI Bank, India’s largest private sector bank, and First Data, a global leader in electronic commerce and payment services.
First Data is the majority stakeholder in the alliance with ICICI Bank holding 19%.
The bank has a vast network of 4,850 branches ICICI's shareholding in ICICI Bank was reduced to 46 percent, through a public offering of shares in India in 1998, followed by an equity offering in the form of American Depositary Receipts on the NYSE in 2000.
In the 1990s, ICICI transformed its business from a development financial institution offering only project finance to a diversified financial services group, offering a wide variety of products and services, both directly and through a number of subsidiaries and affiliates like ICICI Bank.
Users will be able to make quick and secure payments on any mobile application, including chat, messenger, email, games or search browser, without having to exit their current application on their smartphone.
This reduces the time taken by customers having to switch tabs or applications within their smartphone to access the bank’s application ‘i Mobile’.
The Reserve Bank of India issued a clarification on the financial strength of ICICI Bank to dispel the rumours.
In 2008, following the 2008 financial crisis, customers rushed to ICICI ATMs and branches in some locations due to rumours of adverse financial position of ICICI Bank.With an ever-expanding base since its launch, it is the preferred mode of online money transfers to India, facilitating seamless money transfers with round the clock customer service availability.To use this service, a user needs to complete a simple one-time online registration by accessing can thereafter, start sending money from any bank in 9 countries (USA, Canada, UK, Singapore, Australia, UAE, Sweden, Switzerland and Hong Kong) to any beneficiary account with over 100 banks in India.Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, wealth management, personal loans, payment solutions, Trade and Retail Forex.ICICI Bank, stands for Industrial Credit and Investment Corporation of India, is an Indian multinational banking and financial services company headquartered in Mumbai, Maharashtra, India, with its registered office in Vadodara.