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SBI to launch mobile wallet 'Batua' in December
16 Nov 2015
  • State Bank of India, the country's largest lender, is all set to launch its mobile wallet 'Batua' next month, the Economic Times reported.


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  • The service will be available to existing as well as non-SBI customers, and the application will be available on Java-enabled mobile phones.
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  • "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.
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  • "Post-launch customers can log into sbi.co.in, download 'Batua' on their desktop and load the app on their phone," he said.
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  • 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.
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  • 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.
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  • 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.
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  • 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.

 

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