Instant messaging platform Hike rolled out an in-app electronic payments wallet.
Hike Messenger launches the all-new Hike 5.0 with Hike Wallet. Hike is the first messaging app in India to launch payments wallet
There are 3 main aspects of Hike Wallet:
1. Free and instant money transfer
Bank to bank
Users can transfer money instantly bank-to-bank via UPI (Unified Payments Interface). You can carry out the transaction even if your friends aren't on Hike.
Wallet to Wallet
People who don't actively use a bank account can send or receive money using wallet.
2. Blue Packets
A Blue Packet by Hike is an envelope that users can insert money into and send to their friends. Users can choose from over 10 different beautifully crafted envelopes and also add a personalized message to it to celebrate those special occasions. A Blue Packet can be sent to an individual or even a group of friends. A Blue Packet when sent expires in 24 hours.
With Hike 5.0, users can recharge their phones and pay their postpaid bill right from inside Hike.
Yes Bank is the banking partner enabling Hike to launch UPI and the Wallet. UPI is launched by the National Payments Corporation of India (NPCI) in August last year. The company says, with more than 100 million registered users currently on Hike Messenger, this launch makes Hike the largest UPI-based platform in India overnight.