HDFC Bank launched Pay Zapp on 10th June 2015. Aditya Puri, Managing Director, HDFC Bank said “the wallet we introduced under PayZapp, unlike other wallets, is not a pre-paid wallet. It reflects your account and it reflects your credit card balance. More importantly, it is one click. That is the convenience.”

About PayZapp:

1. PayZaap is a complete digital payment and purchase solution, a one-stop online portal offering customers ‘great deals at one place’.
2. It is a two factor authentication.
3. Customer don’t have to enter their information again and again. It is one click app.
4. PayZapp will help its customers do multiple transactions.
5. customer can transfer funds, recharge mobiles, pay bills, do travel bookings, book movie tickets; and order food, grocery and music.
6. Customer can download the app from the Google Play Store from June 15 2015.
7. A customer can also apply for loans, purchase insurance and the bank will also give investment advice through it.
8. The customer can do transactions and for payment, the amount will be debited directly from her credit or debit card.
9. The product is fully compliant with RBI’s two factor authentication and has also been cleared by the regulator.

About HDFC Bank:

1. Established: August 1994
2. CEO: Aditya Puri
3. Founder: Hasmukhbhai Parekh
4. Headquarters: Mumbai
5. Slogan: WE UNDERSTAND YOUR OWN WORLD
6. It is the fifth largest bank in India as measured by assets.