True Balance added mobile wallet feature

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Marking its entry into the fintech business in India, True Balance balance management app has added a mobile wallet feature today.

True Balance added mobile wallet feature

This feature will allow users to add money to a wallet, do faster recharges and do peer to peer money transfers. Moreover, it will also enable users to transfer wallet money to one's bank account. True Balance wallet is RBI compliant and keeps data security of users at utmost priority.

Charlie Lee, CEO, True Balance said, "By enabling digital payments on our platform, we are taking another important milestone which supports Indian government's vision of digital India. Our new feature will help Indians to make secure and seamless utility payments from their mobile phones. The launch of the mobile wallet is intrinsic to our strategy to engage with users and increase revenues as well."

The app, which started as a mobile balance management service for pre-paid users, has already garnered more than 50 million downloads. It has been providing various features around managing phone bills; allowing users to know their data consumption, mobile balance and next due recharge date etc. with just a swipe.

It also offers 'One click- recharge feature', enabling easy phone bill payments on its platform. The launch of wallet feature sees the app gradually progress from a "balance check app" to a "bills check and payment app."

In the past, users recharged their phones by using a credit or debit card or points earned through referral system/in-app activities or offers. Now, True Balance's mobile wallet will allow users to freely deposit money to their True Balance Wallet thus facilitating easy phone recharges.

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