Press Release Chennai (India), June 16, 2000
CHENNAI TELEPHONES TIES UP WITH ICICI BANK
TO PROVIDE INTERNET BILL PAYMENT FACILITY TO ITS CUSTOMERS
Chennai Telephones and ICICI Bank today announced a tie-up to launch Electronic
Bill Presentment and Payment (EBPP) service through 'Infinity' - ICICI Bank's
Internet banking service. Chennai Telephones is the provider of basic telephone
services in Chennai. ICICI Bank is India's leading private sector bank and a
pioneer in Internet banking.
Through EBPP, Internet banking customers of ICICI Bank will be able to pay
their Chennai Telephones Bills online. The process is extremely customer
friendly and is as follows
o An Internet Banking customer of ICICI Bank logs on to "Infinity" and
selects the Bill Payment Option.
o Then the customer "registers online" for payment of Chennai Telephones
Bills and adds Chennai Telephones to the Personal List of Payees. There is
no paper trail of registration forms.
o To initiate payment, the customer selects the biller from the Personal
List of Payees, goes into the Payment Page and schedules a payment. A
unique feature of this facility is that a customer can schedule payment
for a future date and ICICI Bank's system will automatically take care of
it based on availability of sufficient balance.
o Another unique feature is that a customer can see the history of payments
of the past 6 months
ICICI Bank launched its Utility Bill Payment facility way back in August 1999
by facilitating the payment of MTNL (Mumbai) bills over the Net. In view of the
overwhelming response received for the Utility Bill Payment facility, the Bank
decided to introduce the next logical enhancement, that of Bills Presentment
and Payment for Utilities having matching capabilities. This enables online
viewing of the bill details (eg. Bill amount, due date, etc.). This is a value
added service in that the customer need not even enter the amount of the bill,
but just click on the bill details to have it paid. This removes any chance of
error while entering the bill. The Bank's customers will get the unique
facility to be able to conduct EBPP activities across delivery channels -
Internet in the first phase and Call Center, ATMs and Kiosks later. The EBPP
system will maintain the payee database, handle payee registration, payment
creation, scheduling and keeping track of payments.
ICICI Bank has been a pioneer in the field of e-Commerce. It was the first bank
in India and one of the first few in Asia to launch Internet banking. ICICI
Bank has consistently offered unique services to its customers like online
account opening. Its retail customers can access their accounts over the net,
conduct funds transfers and other bank account related activities. Recently the
Bank offered Internet banking services to its corporate customers - another
first for the bank!!!
For further queries:
Contact: Mr. Mohan Shenoi on +91-22-6531414 or
email to [email protected]
For investors' queries, contact:
Shri Bhashyam Seshan
Phone : (91)-22-653 8420 or 653 7560
e-mail : [email protected]
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Except for the historical information contained in this Press Release,
statements in this Press Release which contain words or phrases such as "will",
"would", "aim", "close", "will likely result", " believe", "expect", "will
continue", "anticipate", "estimate", "intend", "plan", "seek to", "future",
"objective", "goal", "project", "should", "will pursue", and similar
expressions or variations of such expressions may constitute "forward looking
statements". These forward -looking statements involve a number of risks,
uncertainties and other factors that could cause actual results to differ
materially from those suggested by the forward-looking statements. These risks
and uncertainties include, but are not limited to our ability to successfully
implement the actual growth in Internet banking products, our growth and
expansion, technological implementation of the understanding and technological
changes, cash flow projections, our exposure to market risks as well as other
risks detailed in the report filed by ICICI Bank Limited with the Securities
and Exchange Commission of the United States. ICICI Bank undertakes no
obligation to update forward -looking statements to reflect events of
circumstances after the date thereof.
