Paytm is facing more problems after the Reserve Bank of India (RBI) took action, while its competitors are expanding.
MobiKwik, a fintech company, has introduced a new feature called Pocket UPI.
With this, users can make UPI payments using their MobiKwik wallet without linking a bank account.
Users can add money to their wallet and spend it freely, reloading when needed.
You can add balance using credit card, debit card, or UPI. MobiKwik’s CEO, Bipin Preet Singh, believes Pocket UPI adds new features to the digital wallet.
Pocket UPI accepts card payments from networks like RuPay, Visa, American Express, and Diners Club.
Payments can be used at merchants and e-commerce platforms, as well as for transferring money.
What are the benefits
Small and big UPI transactions can clutter your bank statement, making it hard to track spending and detect fraud.
For instance, if you make several small UPI transactions for groceries, they’ll all show up individually in your bank account.
This can make it difficult to spot fraudulent deductions. Using MobiKwik’s wallet for such transactions can help you avoid these issues.
