TranServ launches Udio mobile wallet to enable social transactions
TranServ today launched Udio as India’s first social mobile wallet. The new mobile wallet enables social transactions and competes against other mobile wallet clients in the country, including Paytm and MobikWik among others.
Unlike traditional mobile wallets, TranServ’s Udio offers digital P2P (peer-to-peer) transactions with a social and community-driven aspect. This means that it can be used in transactions such as splitting bills, sending or receiving money and group payments. Users just need to install the Udio Wallet app on their devices to enable social transactions.
“With the Udio app, we are taking the next step in the field of digitally led social payments in India by seamlessly integrating the social aspect with our secure and swift digital solutions,” says Anish Williams, co-founder CEO, TranServ, in a press statement. “We strongly believe in this concept and its viability in the Indian context, which is why we have integrated peer-to-peer transactions into our own offerings.”
The Udio Wallet has VISA pre-paid card integration — comes from Ratnakar Bank — to let users leverage its payments facility at over a lakh merchants across India. This also enables cash-free payments on offline channels.
Mumbai-based TranServ recently partnered with Micromax Informatics to offer a native mobile payments solution to the smartphone vendor. With the new launch, the digital payments company is set to integrate Udio mobile wallet into Micromax’s Canvas series devices.
Apart from Micromax, TranServ is looking forward to offer Udio wallet on many new and existing mobile devices in the country.
“We are confident that India’s growing smartphone user base will welcome this new development with open arms and adopt Udio as their default payments partner for all online and offline transactions,” Williams added.
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