How does it work?The user creates an account with a mobile wallet service provider and adds money to the account as in a regular bank account. Debit, credit and other online transactions are then conducted through this account. This facility offers some great advantages over online banking — users are not charged for any transaction, one does not have to enter the card details/pin numbers/passwords for every single transaction and the transactions can be conducted on the go. Nothing beats the mWallet in terms of convenience that it imparts to the users.
This appeared in 'The Tribune' on 12 September, 2015.