TimesofMoney has tied up with Yes Bank to launch India’s first e-wallet – Wallet365.com. The new venture enables secure electronic payments between people and businesses easily and instantly. Signing up with Wallet365.com is free, all one needs is a valid email ID. Yes Bank will be providing the payment and banking services.
Speaking on the initiative, Vineet Jain, Managing Director, Times Group, said, “Wallet365.com will energise, catalyse and revolutionise e-commerce like never before. Going beyond credit cards, it will take the fear out of the user’s mind and will drive people to make more and more transactions on the Internet.”
By signing up with Wallet365.com, users can send money to anyone, receive money from anyone, and even use this service to make business payments. Wallet365.com will ease payments for online shopping and payment of utility bills. Customers using Wallet365.com can store money electronically and can use any bank account for this service.
As customers are often averse to e-commerce and using credit cards online fearing financial loss, Wallet365.com has made sure that all financial details are protected during transactions with stringent security measures involving 128 bit encrypted and certified by VeriSign.
Dinesh Wadhawan, CEO, Indiatimes.com, said, “The concept of instant electronic payments is great for e-commerce customers and merchants. We have all seen the magic that eBay and Paypal have created in the West. We are convinced that with an offering like Wallet365.com, Indiatimes and TimesofMoney will be able to recreate the same magic in India.”
Suresh Rangarajan, Chief Operating Officer, TimesofMoney, said, “The very fact that money can be stored online is a breakthrough that will change the payments landscape. In the evolution of money from currency to plastic to virtual, Wallet365 will play a pivotal role in India.”
To facilitate online shopping and payment of bills, Wallet365.com has also tied up with over 100 merchants. Users can shop online at leading e-shops and also pay utility bills and donate money online.