WALLETS

Today’s need of a user is to make fast and easy payment using a hand held device. To know recipient’s bank details or entering it while making a payment (or maintaining it) is tedious and time consuming. Payment using a contact number or email id is far more convenient to the user as it is hassle free and requires no maintenance of payment details.

In order to facilitate easy and fast payments for users, a digital channel introduced as ‘Wallets’. Wallets will serve easy payments to the recipients just by entering the recipient’s email id or mobile number. The bank can serve additional channel for its users for basic banking and a trending way of making payments.

With wallet, user can perform basic banking using a simple and easy to use user interface.

Wallets features includes:

• Wallet Registration
• Wallet Dashboard
• Add funds to wallet
• Request Funds from other Wallet users
• Transfer Money
• Requested Funds
• Wallet Statement
• Wallet Account Details

Note:
1) Currently users will not be able to use any future dated transaction or utilize pay later options using their Wallet Account.
2) Post wallet registration, if the wallet user subsequently wishes to apply for a savings/current account by going to a branch and an account is opened in the host system directly and not via OBDX. Branch user will change customer type to appropriate customer type and then open new account. In this case, the OBDX bank administrator will need to operationally map the role of a "Customer" and remove the role of "Wallets" against the user in OBDX.
3) Only CASACurrent Account or Savings Accounts are operative accounts through which account holders perform day to day operations such as deposits and withdrawal of money. is supported for Merchants in Inward Remittance.