Axis Bank launches fingerprint authentication via iPhone

Third-largest private sector lender Axis Bank on Tuesday launched a service wherein customers using the expensive i-Phones can authenticate transactions using their fingerprints through a service called 'Touch ID'.

Bank customers using Apple iPhone 5s and above can now complete their financial transactions such as bill payments, mobile recharge and funds transfer using this feature, it said in a statement.

The Shikha Sharma-led bank also joined its larger rivals HDFC Bank and ICICI Bank in unveiling an application for the Apple i-Watch, which is yet to be launched in the country.

Axis Bank also reported doubling of its number of mobile transactions for June, with the total value touching the Rs 2,400 crore mark.

"Axis Bank has currently witnessed Rs 2,400 crore worth transactions through mobile banking during June 2015.

Mobile transactions have grown nearly 113 per cent year-on-year," Group Executive and Head for retail banking, Rajiv Anand, said.

In June 2014, the bank had witnessed 13.60 lakh transactions with a total value of Rs 586.15 crore. RBI releases data on mobile banking on a monthly basis.