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The smartphone, well established as a tool for convenient communication, is now well positioned to become a critical element in the banking and payment chain. Here are some apps that make it easier to manage your money.

Chillr

Free

Android, iOS, Windows phone

Chillr has partnered with banks such as HDFC Bank, Bank of Baroda and Federal Bank, and is in the process of partnering with more. Users can transfer money to their contacts’ bank accounts, recharge phone connections and split bill payments among friends in a group. A unique feature is Scan & Pay, where the user can scan the QR code generated by the merchant to make the payment. The latest update adds the “@"tag feature, which allows you to send money to professionals, institutions, non-profits, etc., or, for that matter, anyone in your phone book even if you don’t know their account number or the bank’s IFSC code. Overall, Chillr has a clean and neat user interface.

mSikkay

Free

Android

This app was launched in Pune last year to facilitate payments for autorickshaw rides, but has evolved into something much more. You can transfer funds to friends even without an Internet connection. It’s based on SMS banking, powered by the National Payments Corporation of India’s IMPS (Immediate Payment Service). All banks that subscribe to IMPS funds transfer can be used for transactions in mSikkay.

PingPay

Free

Android, iOS

This app from Axis Bank lets you connect to multiple social media platforms. Axis Bank as well as non-Axis Bank customers can send money, ask for or receive money and recharge mobile across WhatsApp, Facebook and Twitter. Users can also customize their transactions by adding text messages, pictures, video or audio messages.

iCash

Free

Android, iOS, Windows Phone, BlackBerry

This app is a jack of all trades. On the home page, you get details of discounts and the benefits available from various merchants on the platform. Apart from the usual bill payment/recharge facility, it offers the option of booking hotels, flight tickets and bus tickets, and even making hotel reservations. You also have the option of transferring money to banks, friends or beneficiaries. The app tends to automatically run in the background every time you reboot your phone—this obviously is an issue that needs to be addressed in a future app update.

State Bank Buddy

Free

Android, iOS

The State Bank of India (SBI) Buddy app includes features such as sending money to registered and new users, asking for payments and sending reminders to settle dues, transferring additional cash free of cost to an account of your choice, recharging and paying bills, booking movie and flight tickets and shopping. The SBI runs this app in collaboration with the consulting services company Accenture and payments and technology company MasterCard. There is an option of sending gifts to family and friends in India and abroad, without any shipping charges, from the available options, categorized according to occasion/festival.

TruPay

Free

Android

The TruPay app has a simple user interface and can be used to transfer money to other people. The app has a “Pay for Utilities" and “Request Money" section. It also has a section to add beneficiaries who can help you out by transferring money to you when you really need it. TruPay is planning to partner with the government to facilitate the Jan-Dhan, Aadhaar and Mobile Transaction services.

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