Payzapp mobile payment ecosystem - review

I have been owning an HDFC Bank account for almost 18 years and if I remember correctly, it started off as a pure online account (non branch) with zero balance, when I was a student. I have been banking with them ever since, as my primary bankers. My branch visits (although account moved from student to Preferred a/c over the years) have stopped almost completely except for attestation of bank statements for visa purposes or for international money transfers for running race fees.

Since last one and half year, I have not only stopped visiting the branch but almost stopped using the desktop banking website of the bank, except for printing statements or adding payees, as the same is somehow not permitted via the iOS application.

Given this background I have been looking to get more from my mobile banking experience on the HDFC Bank iOS app. I was quite excited with the recent launches of Chillr and square version of POS terminal by HDFC Bank to improve debit and credit card usage. Chillr is an exciting product but it's quite limiting my requirements, given the specific focus of making account to account transfers/transactions. Finally with the launch of Payzapp, HDFC Bank has finally addressed my need of having something which does almost everything I require. It can become a wallet, generate a disposable card for conducting transactions on unknown international sites, make payment using my debit or credit card for ecomm transactions without the need of a 3D secure/second layer or OTP. This convenience of bypassing second layer (legally), and getting as close to the old uber experience of paying using credit card without having to do almost anything is a huge win for me.

I have been able to check only the basic features of the newly launched Payzapp app, given that only android version has been launched. But I like what I have seen and am eagerly waiting for two things to happen, one the imminent launch of iOS version next month and introduction of non HDFC Bank credit cards inside Patzapp. Once these two things happen, I would finally have a one stop platform for all my payment needs.

Next post will be after launch of iOS version and linking of my account to Payzapp.