True Balance launches mobile wallet service – ventures into fintech business

What is True Balance ? 

True Balance app was developed due to the constant necessity of checking balance and recharging.The app has shifted mobile balance alerts from text to infographics and made it convenient for users to easily check the balance, purchase pre-paid plans and track data usage. True Balance has more than 50 million downloads in the Google Play Store and counting. Such impressive has been its growth that SoftBank Ventures Korea called True Balance ‘its most impressive investment till date’ during the second round of funding.

 

The Application  – 

True Balance, one of the top applications in the lifestyle category on Google Play Store added a mobile wallet feature today, marking its entry into the fintech business in India.

True Balance

Having received a nod of approval for wallet license from the Reserve Bank of India (RBI) earlier this year, the mobile balance checking company has now launched its new mobile wallet feature enabling next generation payment method. This feature will allow users to add money to wallet, do faster recharges and do peer to peer money transfers.  Moreover, it will also enable users to transfer wallet money to one’s bank account.True Balance wallet is RBI compliant and keeps data security of users at utmost priority.

Also Read – Zoctr – Your Prefect Home Health Partner which provides all health care facilities at one touch.

The app, which started as a mobile balance management service for pre-paid users, has already garnered more than 50 million downloads. It has been providing various features around managing phone bills;allowing users to know their data consumption, mobile balance and next due recharge date etc. with just a swipe. It also offers ‘One click- recharge feature’, enabling easy phone bill payments on its platform. The launch of wallet feature sees the app gradually progress from a “balance check app” to a “bills check and payment app.”

In the past, users recharged their phones by using a credit or debit card or points earned through referral system/in-app activities or offers.Now, True Balance’s mobile wallet will allow users to freely deposit money to their True Balance Wallet thus facilitating easy phone recharges.

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