What Is A Mobile Wallet? How To Install It?

In the time of demonetization, cashless tools are gaining popularity within a short span of time. Mobile Wallet is such a service which earlier targeted only tech savvy generation, but now is attracting everyone's attention.

Mobile Wallet is a mobile platform turning your smartphone into a payment tool.

What is a Mobile Wallet?

As the name implies, a Mobile Wallet is a mobile-based virtual wallet. Users can preload a certain amount in their account created with the mobile wallet service provider.

This amount can be used for paying all online and offline merchants listed with the mobile wallet service provider.

 

Transactions you can make using Mobile Wallet

Right from utility payments to e-tailing and offline payments, you can perform most of your daily transactions. Users do not have to enter their card details every time they make a transaction, rather they only have to enter their M-wallet ID and passwor

How to try mobile wallet ?

1. Install Demo Wallet from Google Play or AppStore

Use direct link for Android Android or iOS to download MobiPay Mobile Wallet.
Use your Facebook account button or Put your e-mail address then press Next.
Check your mail for OTP password and put it there.
Create 4-digit PIN-code.

2. Enter Wallet using your Facebook account or e-mail.

3. Add your phone number and payment card

Phone number should be entered in international format, starting from "+". Then wait for SMS with code and put it there for confirmation.

4. Try few demo cases:
a. Authorization.
b. Payment through QR-code.
c. Peer-to-peer transfer (ask your friend to install the same app in order to try).

 

Advantages of using Mobile Wallet

Mobile Wallet, allows its users to save their money in their M-wallet account like they save in the bank account, and at the time of transaction they can simply log into their M-wallet account and pay the amount they needed.
The biggest advantages of using Mobile Wallet is, it cannot be pickpocketed. Users will not have to ask for change, and thus hassle for change can be avoided.
Also, mobile wallets allow you to pay in one-tap, unlike net banking that calls for opening several browsers and are time-consuming.

The biggest advantage of mobile wallets is the unlimited rewards in the form of discounts and cashback.