Hike rolls out India's first payment wallet within messaging platform

Hike Messenger, India's only home-grown messaging platform, today announced the launch of Hike 5.0, an all-new visually delightful, unique, social experience.

Hike Wallet allows consumers free and instant money transfers to bank accounts via UPI, and for those who don't actively use a bank account, they can still send and receive money through the wallet. It's not clear if Hike has tied-up with certain telcos for this, and if so then which telcos, or if it will work irrespective of the user's network provider.

Speaking about the Hike Wallet feature, it allows users to transfer instantly to any bank in the country.

The Blue Packets is a new feature that allows users to insert money into a blue envelop and send to their friends. Users can choose from over 10 different beautifully crafted envelopes and also add a personalised message to it to celebrate those special occasions.

To this extent, Hike is giving users the option to make mobile phone bill payments and to recharge their prepaid SIMs. "Hike 5.0 is our most ambitious step in that direction till date", added Kavin Bharti Mittal.

He added that the rollout to Android and iOS (Apple) users will be completed by June 25, while the wallet feature will be made available to Apple phone users by end of July.

A "Blue Packet" can be sent to an individual or even a group of friends and users can select how many people in the group should get it.

Besides the Hike Wallet, the homegrown company has revamped the complete user interface of the application in the Hike 5.0 update.

The Hike has partnered Indian private sector lender Yes Bank to facilitate money transfers to banks using the UPI system, Mittal said. Mittal said Hike has been working closely with WeChat, a part of its investor Tencent, to bring payments to India. We believe we can make that experience fun and also a new form of messaging. Further, Hike has reduced the size of its app to 25MB. We believe so. That's the idea.

Hike 5.0 now features a new slick look, with an emphasis on personalisation with App Themes. It could be from a simple Thank You or Congratulations to a Happy Birthday.

E-payments have surged in India since a shock ban of high-value bank notes in November a year ago. "We hope with Blue Packets we can give our users a new avenue to express themselves".

Instant messaging app WhatsApp, owned by Facebook Inc, is mulling a foray into digital payment services in India, its first such offering globally, and has.

  • Zachary Reyes