Personal finance management app Walnut has partnered with TechProcess Payment Services to allow app users to transfer money across banks and cards.This partnership will initially allow Walnut users to send money instantly to anyone in the country, initially using their debit cards, and subsequently, bank accounts. This will be done using TechProcess’s Paynimo payment platform.
Amit Bhor, CEO, Walnut, said "Post demonetisation, number of digital payment transactions has risen up sharply in India. We’re seeing a huge rise in the use of our bill split feature and P2P transactions on Walnut. However, as far as peer-to-peer payments are concerned, we have seen that people still prefer to receive money in their bank accounts rather than wallets. Our partnership with TechProcess allows users to send money from any bank account-to-any card and vice-versa completely free."
Kumar Karpe, CEO, Techprocess Payment Services, said, "At TechProcess, we have been making payments easier for both business and consumers for over 16 years now. Our partnership with Walnut is a step further to help India go cashless. Not only does Paynimo, our Next Gen digital payments platform enable seamless money transfers for all Walnut users, it is the only aggregated third-party payment solution that enables interoperability that works across major card networks and all banks in India. We look forward to collaborate in the future and launch more products to serve Indian consumers."
Set up in 2014, Walnut is a personal finance management app that allows users to track spends, bank and card balances without needing bank passwords.
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