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India's HDFC Bank to introduce mobile wallets, remittances

Thursday, December 06, 2007; Posted: 11:37 PM

MUMBAI, Dec 7, 2007 (Asia In Focus via COMTEX) -- HDB | charts | news | PowerRating -- HDFC BANK's (BSE:500180) mobile banking users have doubled in less than six months this year and the private sector lender now plans to introduce mobile wallets and remittances soon, a top bank official said. "We are looking at getting debit card and credit card services on mobile phones for transactions and we also plan to introduce it in rural areas," HDFC Bank's Executive Vice President (Retail Banking), Rahul N Bhagat, told reporters on the sidelines of a banking conference here.

* "Instead of carrying the card and swiping it, the transaction can be done through a mobile by clicking the options," he added.

* The bank will also focus on an aggressive ATM expansion programme, he said.
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India's HDFC Bank to introduce mobile wallets and remittances soon as its mobile banking users double in six month