News From Press ‘Wallets’ will soon fetch you money

‘Wallets’ will soon fetch you money

Source: Hindu Business Line Jul 21, 2016

Soon, money kept in mobile wallets will work for you, instead of it remaining idle. Wallet users will be able to get 6-7 per cent per annum returns by investing in liquid mutual funds.

This new facility is being launched by mobile wallet players, including ItzCash, in a bid to make them more attractive to users. Wallets will have an ‘investment and redemption’ feature and the money will move in and out of the wallet without the need of a bank account.

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