HDFC Bank on Tuesday, May 6, 2008 launched funds transfer on mobile commerce network, NGPAY. HDFC Banks claims to have become the first bank in India where range of services such as accessing bank accounts, shopping, ticketing, and payments are made available through mobile.

 

NGPAY application can be downloaded by HDFC Bank customers who are registered for fund transfer. This would enable them to transfer the funds easily. Country Head – Retail Liabilities, Marketing & Direct Banking Channels, HDFC Bank, Rahul Bhagat said that the funds transfer will take place in real time if it is between two HDFC banks, and within two days when dealing with non HDFC accounts. Saurabh Jain, the CEO of NGPAY said that starting next month HDFC bank customers will be able to trade the mutual fund scheme through NGPAY.