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In March 2015, HDFC Bank had partnered with Chillr to launch the mobile money transfer app on Android and iOS platforms.

"Chillr has witnessed monthly transactions worth Rs 3,000 crore from HDFC Bank customers alone," Chillr's Joy said while speaking at the launch of the HDFC Bank's UPI platform on its app. 

Chillr is a Mumbai-based start-up company developed by MobMe Wirless Technologies in December 2013 and later on founded as an independent entity Backwaters Technology in December 2014.

Before the launch of HDFC Bank's UPI platform on its app, Chillr was providing Immediate Payment Service (IMPS) with 11 banks wherein it offered instant interbank electronic fund transfer service through mobile phones. 

"With the HDFC Bank UPI on Chillr app, the start-up's base will expand as customers of over 33 more banks will be able to use it, in addition to existing 11 banks," Chillr said in a joint statement.

Chillr at present has monthly transaction value of over Rs 500 crore and has three million users on its mobile payments platform .

"With the launch of UPI, Chillr is targeting a monthly transaction value of $1 billion (nearly Rs 6,652.75 crore) and 10 million transacting users by the end of this year," Chillr said in a statement.

Chillr app links directly to one’s bank account and allows faster money transactions, such as money transfers, recharges and bill payments directly from the user’s bank account. 

With the launch of HDFC Bank's UPI on Chillr app, it would be interesting to see how the app will now compete directly with Flipkart acquired UPI-based mobile payments company PhonePe, which was the first mobile payments company to introduce UPI platform on its app.

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