SpiceMudra Wallet Aims Rs 600 Crore Transactional Value By Jun'16

Posted By: Staff
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New Delhi, Dec 22 (PTI) Spice Digital's prepaid wallet SpiceMudra is eying transactional value of Rs 600 crore by June 2016, and has already recorded transactions of Rs 200 crore in three month period.

SpiceMudra Wallet Aims Rs 600 Crore Transactional Value By Jun'16

"Mobile wallet service SpiceMudra records transactions worth Rs 200 crore in 100 days. Targets to reach transactional value worth Rs 600 crore by June 2016," Spice Digital said in a statement.

The company received wallet authorisation from the Reserve Bank in April this year and then expanded its reach across India. In the month of October the company recorded transactions worth Rs 50 crore including that of enterprise payments as well as domestic remittances.

"We aim to cross Rs 600 crore in transactional value and expand our network to reach over 20,000 retail partners by June 2016... We can provide remarkable solutions to customers and contribute towards the digital economy vision of the Government of India," Saket Agarwal, Global CEO, Spice Digital said in the statement.

SpiceMudra facilitates domestic money transfers and all kinds of utility services payments like bill payments, recharge and railway ticketing services.

Spice Digital's android app for SpiceMudra caters to B2B retailers.


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