Less than two months after MobiKwik developed a wallet for state-owned telecom company Bharat Sanchar Nigam Limited (BSNL), the Gurugram-based digital payments company has announced a similar partnership with Bajaj Finance, the lending arm of Bajaj Finserv, for the launch of the Bajaj Finserv Wallet. According to the terms of the alliance, the new app will be powered by MobiKwik.
Touted as India’s first wallet that offers all the features and benefits of the Bajaj Finserv EMI card, the wallet is envisioned as a cost-effective, secure and personalised ecosystem for digital payments.
At the launch of the app, Bajaj Finance COO Rakesh Bhatt said, “We are delighted to introduce a disruptive proposition that will enable our customers to enjoy the features of the Bajaj Finserv EMI card, along with the ease and benefits of a wallet app. This is a strategic step for us to complete our payment ecosystem, thus enabling exponential customer experience and giving them additional means to pay the way they want.”
Bajaj Finserv Digital Wallet: Catering To More Than 75 Mn Customers
The wallet, which is available to all existing and new customers of MobiKwik and Bajaj Finserv, allows users to make and collect payments, pay bills, book bus tickets, avail offers, search nearby stores etc. instantly and seamlessly on a real-time basis.
The Bajaj Finserv Wallet comes pre-loaded with its digital EMI card. It also ensures security against any fraudulent transaction and makes it easy to block or unblock the card, increasing the ease of transaction.
As stated by Taku, the Bajaj Finserv Wallet will cater to more than 75 Mn customers across the country. Using the app, users can make digital payments across India on MobiKwik’s 2 Mn+ merchant network and Bajaj Finserv’s distribution network of more than 33,000 outlets.