TranServ launches India’s first social mobile wallet Udio

India’s digital payment startup company TranServ has launched country’s first Social Mobile Wallet named Udio.

The digital wallet seeks to address the gap between real and virtual modes of payment as it has more social experience.

Key features of Udio Wallet

  • It integrates a social, community-driven aspect with anytime, anywhere accessibility to digital P2P (peer-to-peer) transactions.
  • These transactions take place via seamless and secure payment structure that creates a ubiquitous ecosystem for both consumers and brands.
  • It is relatively easy to use and is a more casual approach for making cashless payments similar to mobile banking.
  • It enables users to do squaring of dues, sharing dinner bills or a cab ride and also to pay electricity and gas bills and make DTH & mobile recharges.

What is peer-to-peer payment solution?

  • Digital P2P payment allows users to send payments to anyone with a click of their mobile phone.
  • It is an accessible, practical and convenient cashless digital means of paying bills, in-store purchases and more.
  • It replaces physical cash notes with digital currency in order to reduce and offset the costs associated with cash.

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Categories: Science and Technology Current Affairs - 2018

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