Axis Bank is the India's 3rd biggest private bank now offering a facility to transfer money over various social media channels like Facebook, Email list, Whatsapp, Twitter and the phone contact list. So now you can easily transfer money through whatsapp. How can we do it?The Ping Pay service of Axis is competing with the other private digital products like HDFC Bank's Chillar and ICICI Bank's Pockets.
"The transfer of funds is instant while in other platforms there is a waiting period of 30 minutes to one day," he added.
Transfer of money from person to person via Ping Pay is possible through NPCI's IMPS(Immediate Payment Service) and presently the limit of the transaction is 50 thousand each day.
The users of the Ping Pay should register with their respective cellphone numbers and for making the transactions can associate their Axis Bank.
Internet banking credentials (2.95%) or Debit Card/ATM to transfer money.
The users will have a choice to choose any social app & then select the recipients name. The person whom we send will get a notification and a SMS which informs about the funds receipt.
The person who sends the money will enter the amount and will set a secret code which will be shared separately with the receiver.
After the person clicks the 'Send' button, the money will be instantly sent to the receiver along with a message on his social platform of transaction.
The person who receives the money should transfer it to his/her bank account within fifteen days with the help of IMPS, otherwise if not claimed the money will be automatically sent back to the sender of the money.[whatlauderdale]
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