Partner Release: ICICI Bank Frankfurt Launches "Insta Netexpress" Assured Rate Money Transfers Using Platform

Partner Release: ICICI Bank Frankfurt Launches "Insta Netexpress" Assured Rate
                Money Transfers Using Platform

  PR Newswire

  MUNICH and FRANKFURT, Germany, November 21, 2012

MUNICH and FRANKFURT, Germany, November 21, 2012 /PRNewswire/ --

ICICI Bank UK PLC, Frankfurt has announced the launch of an "Insta Netexpress"
service through its online money tracking platform
for Indians living in Europe. This "Insta Netexpress" service will enable
users to track money transfers to beneficiaries' bank accounts in India with
an assured exchange rate and processing time. is a web-based online remittance tracking platform which
facilitates tracking of remittances from 17 Eurozone geographies to
beneficiaries in India. Further, this service offers competitive exchange
rates, no processing fee or service charges, faster processing time and
dedicated toll free telephone support.

The new service will be provided to users in association with
PAY.ON AG. Users will benefit of this cooperation and experience simple and
fast access to over 100 international payment schemes along with integration
of most diverse risk management methods. This is a state of the art solution
for eCommerce and risk management processes. With PAY.ON's local presence,
ICICI Bank will be able to meet customer needs better and provide a faster,
more efficient service.

Commenting on the launch Mr. Sudhir Dole, Joint Managing Director, ICICI Bank
UK PLC, said, "We at ICICI Bank have always believed in offering
customer-centric solutions and we feel delighted in presenting the Insta
Netexpress facility on 'We shall leverage the synergies
between and PAY.ON to offer yet another innovative solution to
customers, who would now know the exact exchange rate applicable on the
proposed remittance at the time of sending money."

Dr. Tschangiz Scheybani, Managing Director of PAY.ON Asia, further said, "We
are happy to partner with a global player like ICICI Bank for our processing
platform "PaySourcing' as we are constantly experiencing a growing customer
demand for online payment activities. The PAY.ON technology enables online
payments by classical as well as alternative payment methods, thus enabling
ICICI Bank to serve clients worldwide by integrating solutions that
specifically meet domestic payment demands."

About ICICI Bank UK PLC, Frankfurt branch:

Since February 28, 2008 ICICI Bank UK PLC has been active in the German retail
market. It is also focusing on corporate clients with close links between
Germany and India. ICICI Bank UK PLC, Frankfurt branch is a member of the
Association of German Banks (Bundesverband deutscher Banken) and is regulated
by the British Financial Services Authority (FSA) and the German Bundesanstalt
für Finanzdienstleistungsaufsicht (BaFin).

The product and services mentioned in this press release are provided by ICICI
Bank UK PLC - Frankfurt Branch and are subject to terms & conditions
(available at or at any of our branches). ICICI
Bank and the "I man" logo are the trademarks and property of ICICI Bank

About ICICI Bank Limited:

With a consolidated balance sheet total of about USD 91 billion (as at March
31st, 2011), ICICI Bank Limited (NYSE:IBN) is India's largest private bank and
the second largest bank in the country. Its subsidiaries include leading
private insurance companies and some of the largest stock-exchange brokers,
investment funds, and private-equity companies in India. ICICI Bank is now
present in 19 countries. Its ICICI Bank UK PLC subsidiary is in charge of
retail and corporate banking business as well as investment banking in United
Kingdom and other European countries.

About PAY.ON:

PAY.ON AG is the world's leading provider for web-based payment infrastructure
services and provider of the payment processing platform 'PaySourcing' as well
as of the routing gateway 'PayPipe'. 'PaySourcing' allow clients to outsource
all payment and risk management processes into the cloud or to become a
payment service provider in a cost-, time- and resource-saving way. 'PayPipe'
is a high-performance routing gateway, which connects payment market
participants worldwide by using only one API. 'PayPipe' accelerates the global
availability for all market participants like no other network. Accordingly,
transactions are processed in all payment methods in any currency across all
systems. Every PAY.ON system is PCI-DSS certified and therefore compliant with
the international payment standards and requirements. For more information,

Press contact: ICICI Bank UK Plc Agency Hering Schuppener URL: Phone: +49-211-43079-0

Press contact: PAY.ON AGWilhelm Fuchs E-Mail: URL:
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