Mobile wallet News

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Hike users will have access to the bank's vast product line including merchant and utility payments.

The company is witnessing nearly 2 million monthly transactions for Paytm Gold. It is offering 3 per cent extra gold -- up to Rs 4,444 -- on a minimum purchase of Rs 10,000.

Online marketplace Amazon India has secured a licence to operate pre-paid payment instrument (PPI) or mobile wallet in the country as it tries to compete more aggressively against rivals Snapdeal and Paytm.

The app is now available in eight languages -- English, Hindi, Gujarati, Bengali, Oria, Punjabi, Tamil and Telugu -- on the app`s lighter variant MobiKwik LITE.

Users of the mobile wallet MobiKwik will now be able to pay their utility and convenience bills across the country using the wallet.

The demonetisation moved by the Modi government appears to have been a boon for mobile wallets such as MobiKwik, Paytm with the country going cashless.

Commuters across the country can soon pay cashless at all toll plazas using their MobiKwik wallet.

The government's decision to demonetise Rs 500 and Rs 1,000 notes has come as a shot in arm for mobile wallet companies like Paytm, Freecharge and Mobikwik that now expect to see a strong pick up in userbase as well as transaction sizes.

India`s fastest growing digital payments platform Freecharge has partnered with the leading payment gateway solution provider, PayUbiz, to further strengthen its merchant base and help consumers move from cash to digital payments.

The latest push by the Reserve Bank of India (RBI) to adopt Unified Payments Interface (UPI) as an effort to lower the cash economy may leave mobile wallets redundant as per a report by city-based Centrum Broking.

In what may come as a welcome news for Cafe Coffee Day (CCD) lovers, there is no need to carry cash to the famous coffee outlet anymore. You can now purchase your favourite coffee using your mobile numbers

Wal-Mart Stores Inc launched its own mobile payment service `Walmart Pay` on Thursday, potentially dealing a sharp blow to the ambitions of CurrentC, a beta-stage mobile wallet the company had been co-developing with a consortium of retailers.

Mobile wallet company Mobikwik has said it expects monthly GMV to touch Rs 700-800 crore over the next 12 months with half of it coming from offline channels like mom-and-pop stores and restaurants.

The service, which can be used by customers who have installed an app of the bank's mobile wallet 'Pockets', works by scanning QR codes.

The service will be available to existing as well as non-SBI customers.

Bharti Airtel has acquired financial solutions firm YTS Solutions for an undisclosed amount and announced appointment of the latter's co-founder Manish Khera as CEO of its mobile wallet service Airtel M Commerce Services.

The wallet service, Speed Pay, allows a customer to load money even if he does not have a bank account.

MobiKwik, which has 17 million users, offers shopping for stationary, magazines, entertainment and snacks at over 55 WHSmith India outlets across Mumbai and Delhi, a statement said here.