February 28, 2024

Bank of Wallets – launches mobile application to enhancement digital wallets loan proposal, consultation, KYC, exchange and awareness for promote cashless economy in India

Bank of Wallets has developed intermediary mobile application for RBI authorised mobile wallet provider in india to enhancement digital wallet loan proposal, wallet consultation, wallet KYC, wallet exchange and create wallet awareness in our society.

Bank of Wallets  is the first mobile wallet intermediary company offering mobile recharge, ticket booking, e-Shopping, billing system and personal loan, Business Loan, consumer durable loan, vehicle loan etc. consultation through its mobile application.

“Self-help group” Mart e-Commerce company and Bank of Wallets is planning to offer loan services and is seeking tie-ups with RBI authorised mobile wallet provider, Bank and non-banking financial companies (NBFCs).

Hanumant Mule Patil, Bollywood film Producer (Adishakti & Ek Aur Khiladi) and Co-founder, Bank of Wallets, FSHG Mart and Friends Art Creation said, “Total mobile wallet transactions in India are on track to reach INR 800 Billion in 2017, a growth of 113% on the previous year, according to GlobalData, this presents a great opportunity for us and we wish to pioneer the space by being able to provide services to the rest of the population. We are excited to venture into the consumer transaction segment as it aligns with our end goal of providing services to all.”

Bank of Wallets is especially bounded for growth of “promote cashless society” and “cashless micro-enterprise” across the India to enable availing of loan for productive purposes to gain economic prosperity through loan/credit.

“There are several “Self-help group”, Micro-enterprise and people in the country who do not have access to credit through the financial system. We will need to tie up with a Bank and NBFC. We are planning to offer this service from this year 2018,” said Hanumant Mule Patil Co-founder, Bank of Wallets.

Experts believe features like this will help Bank of Wallets to stand out in a crowded market. Apart from several players offering mobile wallets, banks have launched these services too.

Bank of Wallets has also been looking offline and has tied up with brick-and-mortar retailers like Croma.“The average ticket size of the transaction is Rs 1,000 and we expect this to rise. We are present in 1000 stores and we want to increase this to 50,000 stores in the running year 2018,” Hanumant Mule Patil said.

FSHG Mart and Bank of Wallets plans to double its customer base from 72 thousand users to 50 million in the running year 2018.


Corporate Office

Office No. 504, B wing, Sebastian apartment,  kevni pada, near amboli signal, off S.V. Road, Jogeswari West, Mumbai 400102,
Contact: – 9768200389
Email – bankofwallets@gmail.com