Giift shapes Lime - an ace mobile wallet solution by Axis Bank Published-Oct 27, 2015
Axis Bank, India’s third leading private sector bank launched a digital innovation in mobile wallets – Lime. The uniqueness of this latest mobile wallet solution lies in its power to integrate functions - wallet, shopping, payments and banking. Lime lives up to its promise of ‘Life Made Easy’, with solutions that simplify payment needs. Axis Bank describes Lime an ace offering, a ‘fresh way to manage money on the mobile’ and the first such solution in India.

Lime syncs into current market trends of growing consumer preferences and the potential of technology to meet the choices. Lime is developed by Sound People - an SBU of UAE-based leading loyalty and payment solutions company - Giift Services and Solutions. Sound People works with leading banks and PPIs to consult, design and develop mobile wallet and payment platforms. 

Built as an independent app, Lime’s multi-faceted solutions render it a broad consumer appeal. Its use is not restricted to an Axis Bank accountholder. Its advantage is enhanced with its ease-of-use. A Lime wallet is created by the user simply entering key details. Through Lime, a savings bank account can be opened by entering KYC details on the mobile, expenses can be shared with a Pool Money feature. Lime also can be used to send money, make payments, transfer money between wallets or wallet to account or social networks.

Pushing the envelope, the app enters the user’s shopping space. One can compare products and services to make well informed purchases. Proximity payments at offline merchants through the ‘NearPay’ feature, track spends, get a consolidated view of spends, account balances, are all possible with Lime. Lime supports financial management through features like PiggyBank which rounds off bills using the extra money to invest in a high yield investment account. The surplus change goes into the customer’s own piggybank. One can set reminders for important goals. Insta credit gives pre-approved customers real-time loan processing.

Lime is initially available for Android phones and plans are afloat to launch it for Apple. Lime underlines the potential in mobile wallets to become a ‘smart and resourceful solution’ for monetary transactions.

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