One MobiKwik Systems Ltd (MobiKwik), a fintech startup, unveiled a new feature on its platform called ‘Pocket UPI,’ which gives customers more control over budgeting and finance management. Pocket UPI enables users to make UPI payments using MobiKwik Wallet without linking their bank account, putting greater power in the hands of users and providing them with extra options when making UPI payments.
Pocket UPI helps to declutter bank statements by aggregating all UPI transactions, providing a clearer picture of spending habits. With UPI directly connected to bank accounts, customers frequently ignore tiny and recurring charges.
Users can load their Wallet with the funds they need to spend and top up as needed. The site allows you to load your balance using credit cards, debit cards, or UPI. It takes cards from all networks, including RuPay, Visa, American Express, and Diners Club. Payments via Pocket UPI can be made through a variety of methods, including merchant QR codes, e-commerce platforms, and peer-to-peer transfers.
Pocket UPI safeguards users against compromised transactions and financial fraud by transferring funds from their MobiKwik Wallet rather than their bank account, hence lowering vulnerability when completing financial transactions.
Speaking on the occasion, Bipin Preet Singh, Co-founder & CEO, MobiKwik, shared, “Fintech is a dynamic sector that needs consistent innovation to meet the demands of users. With Pocket UPI, we believe that we have added new features to the digital wallet.”
“By linking UPI directly to bank accounts, users often neglect minor expenses. Pocket UPI streamlines finances by consolidating multiple small transactions into a single wallet, providing users with a powerful tool to manage their finances effectively,” he added.
Pocket UPI can execute payments even during bank downtimes, allowing users to make timely payments around the clock, increasing the reliability and convenience of digital payments.
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