This partnership will assist the Hike users to access the bank’s wide range of products including merchant and utility payments.
The SoftBank supported app has over 100 million registered users. The app witnessed more than 30 per cent month-on-month growth for its wallet service.
“Through this partnership, Airtel Payments Bank gets access to over 100M (million) users on Hike and will begin powering the Hike Wallet product,” Hike Messenger.
The brand has reported tremendous transaction over the last few months and most of it was credit.
“It is on track for over 5 million transactions this month with services like Recharge and peer to peer transactions,” said Pathik Shah, VP (Product), Hike Messenger.
“As we scale up the number of services on our platform in the coming months, we expect this to grow even faster,” Shah said.
This partnership will ensure the users to avail uninterrupted services in adherence to the guideline recently issued by the Reserve Bank of India (RBI).
“The addition of Hike Wallets to our portfolio will position us as one of the largest digital payments platforms in India,” A Ganesh, Chief Operating Officer, Airtel Payments Bank said.
Hike was launched in December 2012. The firm raised $ 175 million in its fourth round of funding during August 2016.