Instant messaging app Hike on Tuesday announced the launch of its payments platform, Hike Wallet, which will be part of the instant messaging app’s latest update.
The app has also partnered with Yes Bank to offer bank-to-bank via UPI as well as wallet-to-wallet money transfer options right from the messaging app. The app will also offer mobile recharge option.
“We feel Yes Bank has a much better digital footprint. Already 35 percent of the UPI transactions happen on it. They know how to deal with partners like us,” said Kavin Bharti Mittal, founder and CEO, Hike Messenger.
Hike Wallet also allows users to send money packed in a digital envelope to an individual or a group through its feature called ‘Blue Packets’.
“This is something that will redefine and revolutionize how digital payments are done in the country,” said Ritesh Pai, chief digital officer, Yes Bank.
With the launch of its new 5.0 update, Hike now offers features such as ‘Magic Selfie’ – a camera filter which ‘smoothens your skin – as well as options to change the app’s theme.
Hike claims with more than 100 million registered users currently on Hike Messenger, the launch make it the largest UPI-based platform in India.
The company has raised USD 261 milllion so far from investors such as Tencent, Foxconn Electronics, Tiger Global Management, and BSB.
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