Banking & FinanceCurrent Affairs

HDFC Bank unveiled myApps application to boost digital payments

In a first, HDFC Bank launched myApps application on 9 January 2020. The app aims to boost digital payments in India.  myApps: myApps is a customized suite of banking products. The app will benefit urban local bodies, housing societies, local clubs and gymkhanas, and religious institutions.  It will allow institutions to customize their branding and content.  Using the app one can publish their application on the Google PlayStore or Apple AppStore in the name of the institution.  myApps is free to all members of each institution without any monthly subscription charges.  Members can pay monthly bills or fees and make an online booking for different facilities via myApps. The organization will get easy access to reports on payments, facilities booked by members, requests and complaints registered by users.  The app can be customized in over 20 languages starting with Hindi and English. The move by HDFC bank aims to help organizations to entirely digitize their ecosystem through myApps.  Currently, HDFC Bank is offering four types of applications namely, mySociety, myClub, myPrayer, and myCity.

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