In March this year, India's leading private sector bank, HDFC Bank partnered with a Kochi-based technology company MobMe Wireless Solutions Ltd. to launch Chillr. It's a mobile app that allows users to instantly transfer money to any contact in their phonebook 24 hours a day, seven days a week.
Chillr, a colloquial term for loose change, has now arrived on Windows Phone as well. While customers of any bank can receive money, Chillr has tied up with HDFC Bank to allow sending as well as receiving money over the platform.
With Chillr, customers no longer have to ask for account information and follow the process to add beneficiaries if they wish to transfer money. All you need to do is choose the recipient from your list of Chillr contacts, enter the amount to be transferred and a message for the recipient, and enter your secret M-PIN before pressing the pay button. The recipient will instantly receive money in his/her bank account.
Note that the service has a transaction limit. The maximum amount per transaction is ₹5,000, and the maximum amount that can be sent per day is also ₹5,000, although you can do a maximum of 10 transactions per day.
Chillr is a neat IMPS (Immediate Payment Service) implementation that works pretty well without any OTP requirements or such. Soon, you'll be able to recharge your mobile, DTH, and data cards, pay utility bills, as well as pay at online or offline stores. You can also send money without sharing mobile numbers with Chillr users in your vicinity, using the 'Near Me' option. Essentially, it's like using your bank account's debit card without the need for handing out the plastic to the other person.
If you are an HDFC Bank customer, give Chillr a whirl. It's a pretty good app, and eliminates the need for third-party virtual wallets since the app is linked directly to the customer's bank account. The user experience is great, and the customer support if impressive. Let us know how you like it.