Our Digital Payments coverage is brought you by Chillr: India’s 1st multi-Bank instant mobile payment app enabling fund transfers to anyone in your phonebook. Eko India Financial Services has launched its prepaid wallet service in partnership with the National Payments Corporation of India (NPCI) and RBL Bank. The product, called Eko Wallet, will offer utility bill payments, retail merchant payments and one-click payments via its apps and point-of-sale presence. Eko Wallet also allows users to send deposits or remittances to any bank account using NPCI's Immediate Payment Service (IMPS). Eko says it processes over Rs 200 crore a month in domestic money remittances, and that it aims to grow this business to Rs 1,000 crore a month by March 2016 with the help of the wallet. It says that it has processed 34 million transactions worth over Rs 18,000 crore with 10 million customers. The company got its wallet licence from the Reserve Bank of India in March 2015 and is valid for 5 years. Wallet players keep the customers’ money in escrow accounts maintained with banks. Eko has partnered with RBL Bank for this facility. RBL Bank had also partnered with TranServ earlier in February to provide escrow services for its Shmart! wallet. Eko will also be incorporating NPCI's other payment technologies such as RuPay, Unified Payments Interface, Bharat Bill Payment System, Aadhar Enabled Payment System and Aadhar Payment Bridge System. Other developments in the wallet space - Earlier this month, digital payments company TranServ said it is launching a mobile wallet and is tying up with mVisa…
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