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Axis Bank Launches Mobile Wallet to Shop Pay and Bank

India’s third largest private Bank, Axis Bank has launched its mobile banking app titled as “LIME” which allows both account and non-account holders the facility to carry out banking transactions.

Ease of using Axis Bank Wallet

The Axis Bank 'Lime' Wallet also allows the users the ease to compare, shop, and transfer money, share their mobile banking wallet and split bills. This will ensure a seamless payment platform for the customers across various requirements. Currently available for download on android devices, LIME will soon be launched for apple phones too.

The user after downloading Axis Bank Mobile Wallet has to create their user id by providing their details and avail an array of services such as transfer of money in and out of Axis bank account using PIN, make payments for shopping and lot more.

Wallet Based Transactions- the Future of Banking Industry

Of late, Axis bank has been competing with its peers by focussing on digital media. In India alone, about 47% of the transactions are being carried out on digital platform and this percentage is poised to grow multiple times in the coming years. In May 2015, Axis Bank clocked about 1981.50 crore of transactions through mobile banking.

Speaking at the launch ceremony, the Axis Bank officials mentioned that the base rates may see a cut in the coming months. Now that inflation is well under control, rate cuts are on the cards.

Features of LIME

Axis Bank Mobile Wallet LIME allows users to shop offline also by using the MasterCard offered as part of the application. Transfer of funds is allowed without using the NFC (Near Field Communication) with a unique feature called as “NearPay” which connects with another mobile with sound waves. Piggy Bank is yet another feature that allows user to round off the payments and the balance is transferred to high interest yielding deposit. Banking is also enabled by opening a savings account with Axis Bank which further unlocks additional features for users of Axis Bank 'Lime' Wallet.

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