Messaging app Hike has added a payments feature that will allow its over 100 million users to transfer money and recharge/pay mobile bills through the messaging platform.
The Hike wallet – powered by Yes Bank – will allow free and instant bank-to-bank transfer via unified payments interface (UPI), free and instant money transfer via walletand recharge right from the app.
Hike is the first in India to launch payments facility on a messaging platform. It has also improved the user interface as well as added new features to the camera on the app.
Hike’s larger rival, WhatsApp is also working on making a foray into digital payment services, starting with India. The Facebook-owned messaging app has about 200 million users in India.
Post demonetisation, there has been a massive growth in digital transaction volumes in India, including credit/debit cards, mobile banking/m-wallets and UPI.