AXIS BANK LAUNCHES LIME- first mobile app offers Wallet, Shopping, Payments & Banking
BANKING / NEW LAUNCH
Axis Bank launches LIME
India’s first Mobile
App integrating Wallet, Shopping,Payments
and Banking
by Shrutee K/DNS
Mumbai, September 14, 2015: Axis Bank, India’s third largest private sector
bank, announced the launch of LIME, the country’s first mobile app that
offers Wallet, Shopping, Payments & Banking. LIME will act as an
independent app, empowering any person to open individual, shared mobile
wallets and make seamless peer to peer as well as online, offline merchant
payments. Users can also experience the convenience of in-app shopping that allows
them to compare and buy products and services.
LIME will enable individuals to open a full-fledged savings account
digitally, by completing the KYC process, using their mobile.
Commenting on the launch, Ms. Shikha Sharma, Managing Director
and CEO, Axis Bank said, “Customer preferences are changing rapidly and
technology is transforming the way these preferences are being met. Our effort has been to constantly innovate
through the use of smart technology to meet these evolving needs. LIME is the
next big step in this journey."
Further, Mr.Rajiv Anand, Group Executive & Head Retail
Banking, Axis Bank, added “Given the boom in smartphone ownership across
India, people are interacting with their banks digitally. LIME is an integrated
mobile app that offers high customer engagement through new digital and
financial behaviours. It offers a
connected suite of services designed specifically to address the users’
shopping, payment and banking needs. LIME will change the way people manage
their money and set financial goals.”
Leveraging the strength of the expertise available in-house at
Axis Bank, LIME is a fresh take on the way people interact with their money.
The LIME suite of services creates value by connecting an ecosystem of
consumers and partners with the Bank.
Key features of LIME are as follows:
MOBILE WALLET : LIME Wallet: Payments made simpler via
wallet. One can add money from credit/ debit cards or net banking. Simple
authentication via 4 digit mPIN, Shared Wallet: Share wallet with loved
ones. For instance, father can set aside Rs. 5,000 as a Shared LIME Wallet tool
for his daughter from which she can seamlessly withdraw anytime, Pool Money:Allows users to pool funds
into a shared wallet for a particular purpose (eg. vacation/gift) and refund
later equally or in proportion.
SHOPPING : Compare & Shop: With LIME, users can
compare products across online shopping portals and shop within the app, Travel& Entertainment: Book flights, bus tickets,
movies and plan vacations without leaving the app, In-store payments:The payment functionalities
in the app allow users to do proximity payments at offline merchants through
mobile & sound.
PAYMENTS: Bill Pay and recharge: All utility payments eg.
DTH, mobile recharge, gas can be made through the wallet with one-click payment, Transfer Money:Users can make wallet to
wallet payments, wallet to other bank account payments and even send money to
their social network, Split Bills: Easy way to track who’s
spent how much and on what. Works great if you’re dining out with friends or
splitting monthly expenses with your flat-mates, LIME Pay: Enables secure and easy
payments on any app or m-site on phone. First-of-its-kind one-click payment
feature.
BANKING : Digital savings account: Allows users to initiate
and complete KYC process using Aadhaar from their mobile in few simple steps.
The account number is instantly generated on LIME. Upgrading to an account will
allow access to additional features and an option of saving in investment
options, Goals: Users can choose a goal to
save towards (eg. car, home, vacation etc) with amount required, time to goal
and seed fund/installment and then allocate funds towards this goal from their
account. Contribution by users will fetch them higher returns, Piggy Bank: This feature rounds up
change during wallet usage and invests directly into a high yield deposit.
Helps inculcate better financial behavior.
OTHER FEATURES : One View: Keeps track of users’
spending habits and provides insights to help them spend better. Gives a
consolidated view on all account balances, credit cards, wallets, savings and
deposits across any bank or card, Receipt Box: Store and share bills and
receipts. Users can take a picture of their bills and categorize their spends, Genius Insights: Tailored insights to help
users save regularly. Helps inculcate a saving habit – all while helping users
upgrade to the next level of expertise.
About
Axis Bank:
Axis Bank is the
third largest private sector bank in India. Axis Bank offers the entire
spectrum of services to customer segments covering Large and Mid-Corporates,
SME, Agriculture and Retail Businesses. With its 2,589 domestic branches (including extension counters) and 12,179
ATMs across the country, as on 30thJune 2015,
the network of Axis Bank spreads across 1,714 cities and towns, enabling the
Bank to reach out to a large cross-section of customers with an array of
products and services. The Bank also has overseas offices in UK, Singapore,
Hong Kong, Shanghai, Colombo, Dubai and Abu Dhabi. The Bank’s website
www.axisbank.com offers comprehensive details about its products and services.
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