Messaging and social technology company Hike on Wednesday partnered with Airtel Payments Bank to power its wallet. Through the alliance, Airtel Payments Bank will get access to over 100 million users on Hike and will begin powering the Hike wallet product.
Hike Messenger has over a 100 million registered users and its wallet crossed 5 million transactions in November, growing by over 30% month-on-month, the company said in a statement.
People using Hike will get access to Airtel Payments Bank’s product line including merchant and utility payments and KYC infrastructure.
“We’ve seen tremendous traction on the wallet over the last few months, most of it being organic. We’re on track for 5 million-plus transactions this month with only a simple set of services such as recharge & P2P. As we scale up the number of services on our platform in the coming months, we expect this to grow even faster,” said Pathik Shah, VP, Product at Hike Messenger.
He further added that in light of the new KYC guidelines, Hike is excited to announce a new partnership with Airtel Payments Bank.
“We are delighted to partner with Hike to build a world-class digital payments ecosystem by leveraging our vast reach and digital banking infrastructure. The addition of Hike Wallets to our portfolio will position us as one of the largest digital payments platforms in India,” said A Ganesh, Chief Operating Officer, Airtel Payments Bank.
Source: Economic Times