11 December 2017
visit www.solutions.lexisnexis.com

Indian messaging app Hike adds P2P payments

20 June 2017  |  5270 views  |  0 India

Beating rival WhatsApp to the punch, Indian messaging service Hike has followed in the footsteps of its Chinese backer Tencent by adding a mobile wallet to its app, enabling tens of millions of users to send and receive money instantly.

In an Indian first, the latest Hike upgrade introduces a wallet that takes advantage of a partnership with Yes Bank and the government-backed Unified Payments Interface (UPI) for free instant bank-to-bank transfers between friends - even if the recipient is not on Hike.

For those who don't use bank accounts, P2P payments can still be made through the wallet, which also lets people top up their phones and pay postpaid bills.

Mimicking the hugely popular 'Red Packets' feature offered by its backer Tencent's WeChat service, a Hike 'Blue Packets' option is geared towards "making money a new form of social expression" - letting users choose between 10 different virtual envelopes with space for personal messages which can be stuffed with digital money and sent to friends.

Kavin Bharti Mittal, CEO, Hike Messenger, says: "With Blue Packets, we’re going to change the way people send and receive money. We believe we can make that experience fun and also a new form of messaging.

"Can money be the new Sticker? We believe so. That’s the idea. Our users celebrate so many special moments in their lives. It could be from a simple Thank You or Congratulations to a Happy Birthday. We hope with Blue Packets we can give our users a new avenue to express themselves."

Hike, which claims more than 100 million registered users, has stolen a march on Facebook-owned WhatsApp, which is widely expected to roll out a UPI-based P2P payments service in India in the next few months.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

WhatsApp makes P2P payments play in India

WhatsApp makes P2P payments play in India

04 April 2017  |  9362 views  |  0 comments | 15 tweets | 22 linkedin
Alibaba leads $200 million investment in Paytm e-commerce unit

Alibaba leads $200 million investment in Paytm e-commerce unit

03 March 2017  |  10848 views  |  0 comments | 10 tweets | 10 linkedin

Related blogs

Create a blog about this story (membership required)
visit www.solutions.lexisnexis.comvisit http://info.nice.comvisit www.response.ncr.com

Who is commenting?

Top topics

Most viewed Most shared
Revolut lets customers buy Bitcoin, Litecoin and EthereumRevolut lets customers buy Bitcoin, Liteco...
18343 views comments | 26 tweets | 22 linkedin
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11250 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
7456 views comments | 14 tweets | 21 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
6562 views comments | 8 tweets | 17 linkedin
Barclays, First Direct and Nationwide join FCA sandbox cohortBarclays, First Direct and Nationwide join...
5966 views comments | 5 tweets | 12 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job