HDFC Bank has launched a value-added service for religious bodies, societies, clubs and cities. The institutions will get a customised mobile application powered by the lender through which users will be able to pay donations, settle utility bills and make other payments. There are over 30 lakh institutions, which is an addressable opportunity.
The institutions will be having either a savings, current or escrow account with the bank. Institutions will be on-board within four weeks, and will have to pay for the app customisation, for hosting charges and also an annual maintenance fees. The end users who download the app to transact will not have to pay any extra charges.
HDFC Bank is one of India’s premier banks providing a wide range of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.
