Bajaj Finserv, Bajaj Finance Ltd, MobiKwik, Rakesh Bhatt, Technology, Digital Payment, Bajaj EMI Card, Bajaj Finance, Bajaj Finance Mobile App, Bajaj Finance Store
The Bajaj Finserv Wallet app helps customers to access their Digital EMI cards, make and collect payments, pay bills, book bus tickets, avail offers, search nearby stores. (Web Image)

, through its lending arm Bajaj Finance Ltd announced the launch of its mobile application – Wallet in partnership with . The Wallet app offers all the features and benefits of the EMI card, said company. The wallet is available to all existing and new customers of both the brands – and . The wallet helps customers to access their Digital EMI cards, make and collect payments, pay bills, book bus tickets, avail offers, search nearby stores. Currently, has 9.8 million EMI card customers and an overall franchise of 21.69 million customers, while has a 65 million customer base.

“This is a strategic step for us to complete our payment ecosystem, thus enabling exponential customer experience and giving them additional means to pay the way they want,” said Rakesh Bhatt, COO, Bajaj Finance Ltd. The Wallet comes pre-loaded with Digital EMI card which means that the customers no longer need to carry a physical card. It increases security against any fraudulent transaction and makes it easy to block or unblock the card, increasing the ease of transaction.

The enables customers to make digital payments across India on ’s merchant network and Bajaj Finserv’s distribution network. It also provides nearby capability search option which indicates the nearest Bajaj Finserv’s distribution point or the closest Mobikwik Merchant Network outlet across categories like gadgets, clothes, travel, groceries and small appliances, power backup, holiday packages, accessories, education, watches.

“India’s fast paced journey to becoming a cashless nation today received another push with the launch of country’s first credit wallet. The Bajaj Finserv- wallet will allow users to fulfil their buying needs on credit and have an even cheerful festive season,” said Upasana Taku, Co-founder, .

Bajaj Finance Ltd has recently subscribed to 10 equity shares and 271,050 compulsory convertible preference shares (CCPS) for a consideration of approximately ₹2,250 million. This investment in is intended to support Bajaj Finance Ltd’s existing lines of businesses and to be used to develop front-end application for users availing financial services, said company.

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