New Wallets Launched in India: SpiceMudra & XPay; and Visa Shuts M Payments Venture

Spice Digital Launches Prepaid Mobile Wallet SpiceMudra

Spice Digital, a subsidiary of Spice Connect, has launched its prepaid mobile wallet SpiceMudra which will mainly focus on domestic remittances and enterprise payments.

The company has recently received a semi-closed prepaid payments wallet license from the Reserve Bank of India (RBI) in May. SpiceMudra will make domestic money transfers and all kinds of utility services payments possible like bill payments, recharge and ticketing services. The wallet shall also be redeemable at several retail locations, establishments and e-commerce websites all over the country.

Speaking on the launch of the service, Saket Agarwal, Global CEO of Spice Digital,

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