State Bank of India to launch mobile wallet

Monday, August 17, 2015

India’s largest lender, State Bank of Indiais slated to launch its mobile wallet, SBI Buddy, on Tuesday, an ET report has said.

With this, SBI will be entering into the fast-growing mobile wallet business, which already has players like HDFC’s PayZapp, ICICI Bank’s Pocket.

A report by KPMG and UBS had recently noted that India has the youngest population of mobile banking users in the world, younger than those in the US and Europe.

Source: DNA India (link opens in a new window)

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banking, mobile banking, mobile finance, mobile money