Top News

SBI to launch mobile wallet ‘Batua’ in December

  • State Bank of India,
    the country’s largest lender, is all set to launch its mobile wallet ‘Batua’
    next month, the
    Economic Times
    reported.
    • State Bank of India,
      the country’s largest lender, is all set to launch its mobile wallet ‘Batua’
      next month, the
      Economic Times
      reported.
    •  

    •  
    • The service will be
      available to existing as well as non-SBI customers, and the application will be
      available on Java-enabled mobile phones.
    •  
    • “We want to
      cater to both India and
      Bharat, and this new initiative is part of our efforts to cater to
      Bharat,” a State Bank of India
      official, who did not wish to be named, said.
    •  
    • “Post-launch
      customers can log into sbi.co.in, download ‘Batua’ on their desktop and load
      the app on their phone,” he said.
    •  
    • The bank has been
      ramping up its efforts to become the banker to Digital India. It has an annual
      IT budget of Rs 3,000 crore, a 20% market share, and a customer base of 28.6
      crore, of which 2.3 crore are net banking customers and 1.2 crore are mobile
      banking customers.
    •  
    • SBI also launched its
      mobile wallet SBI Buddy for smart phone users in August. SBI Buddy customers
      can send money to new and registered customers, book movies, flights, hotels as
      well as use the mobile wallet for shopping. Customers using Batua will only be
      able to load, pay and receive money.
    •  
    • Several of India’s
      private banks have launched mobile payment solutions for smart phone users. In
      June, HDFC Bank launched ‘PayZapp’, a one-click payment and purchase solution.
      It has also launched ‘Chillr’, a third-party app platform that enables users to
      transfer money to anybody in their phone book contacts.
    •  
    • ICICI Bank has
      launched ‘Pockets’, a wallet model aimed to take on industry rivals Paytm and
      MobiKwik. Axis Bank also recently rolled out a full-fledged mobile app ‘Lime’
      that enables shopping, making payments and banking under one window.

     

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close