And we have arrival of yet another mobile wallet in India! TranServ, leading digital payments company, have announced the launch of India’s first Social Mobile Wallet – Udio.
Udio differs from other digital and mobile wallets due to the fact that it is inherently social in nature.
The company says, unlike most other mobile wallets currently available to users, Udio wallet is fun and interactive just like a social media platform, where wallet users can engage with each other through social transactions such as splitting bills, sending/requesting money, and group payments.
Udio users can gift their friends merchant vouchers, coffee, drinks, desserts and even spa sessions at their choice of hangouts!
It also can carry out all the other mobile wallet functions like phone recharge, bill payments, digital money transfer at large merchants etc.
Anish Williams, Co-founder & CEO, TranServ, said in regards to the launch, “With the Udio app, we are taking the next step in the field of digitally led social payments in India by seamlessly integrating the social aspect with our secure and swift digital solutions. We strongly believe in this concept and its viability in the Indian context, which is why we have integrated peer-to-peer transactions into our own offerings. Peer-to-peer digital payments solutions, such as Venmo, have already been proven to be extremely successful in other markets such as the US. We are confident that India’s growing smartphone user base will welcome this new development with open arms and adopt Udio as their default payments partner for all online and offline transactions.”
Apart from Social features, every Udio wallet user will be given a prepaid Visa card powered by Ratnakar Bank that will allow users to leverage the wallet’s payments facility with over 1 lakh online and offline merchants across the country.
Given that Udio Visa cards can be used even at offline establishments is definitely a big positive for users. (Note: Users will need to pay Rs. 99 to get offline card)
TranServ was earlier in the news when they partnered with Micromax to bring native payment solution pre-installed on all Micromax Smartphones.