Eko Aadhar-linked payments, Oxigen wallet at tolls and Yeldi Softcom wallet license

Eko partners with NPCI for Aadhaar-linked remittances 

Financial services company Eko has partnered with the National Payments Corporation of India (NPCI) to offer an Aadhar-linked remittance service, reports Press Trust of India. The report added that the Aadhaar-based remittance service will be independent of information like bank name, account number, IFSC code. Eko launched its prepaid wallet service in partnership with the NPCI and RBL Bank in December 2015.  At the time the company said it processed over Rs 200 crore a month in domestic money remittances, and that it aims to grow this business to Rs 1,000 crore a month.

Oxigen wallet to recharge FASTag stickers in Delhi

Oxigen Wallet will allow its customers to recharge their FASTag stickers on the Delhi-Noida-Delhi (DND) flyway tolls. Customers can walk in to the DND customer service center and select Oxigen Wallet as a preferred mode of payment to recharge or get a new membership. The DND executive will prompt the customer to generate an OTP (one-time password) on Oxigen wallet app, while feeding in the customer’s mobile number and amount in the POS machine. In order to approve the transaction, customers will have to share the OTP to complete the transaction. In June, the National Highway Authority of India (NHAI) said it would open dedicated FASTag lanes at 48 different toll plazas on Delhi – Mumbai, Mumbai-Chennai Corridors. More on that here.

Yeldi Softcom gets a wallet license from the RBI

Chennai-based Yeldi Softcom has got a semi-closed wallet licence from the Reserve Bank of India. Yeldi is a payment services company that uses NFC technology to deliver its services. While product development started in 2008, Yeldi’s commercial operations started in mid-2015. Currently it offers prepaid payment systems in association with Banks (AXIS Bank in India and NDB Bank in Sri Lanka). It also offers secure access solutions for residential enclaves, townships, condominiums, etc.