Axis Bank's Ping Pay - Instant money transfer through social media channels

Now you can make instant fund transfer using various social media channels like Whatsapp, Facebook, Twitter

Axis Bank has unveiled the multi-social payment solution ‘Ping Pay’ to enable customers with smart phones to instant money transfers to any person using varied social media channels including Whatsapp, Facebook, Twitter, Email list and phone contact list. Money can be transferred to account holder of any bank.



The person-to-person funds transfer through Ping Pay will happen via NPCI’s Immediate Payment Service (IMPS). Currently, the transaction limit is set at Rs 50,000 a day. If left unclaimed until 15 days of transfer, the transaction would be auto-reversed to the remitter's account.

Ping Pay service competes with other banks digital products like ICICI Bank's Pockets and HDFC Bank's Chillar.

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