Payment Wallets

Paytm, Mobikwik, Oxigen, PayUMoney, Citrus are all Mobile Payment wallets, enabling people with virtual aliases to access digital cash. These wallets can be used to make purchases, pay bills or transfer money to someone else who is using the same application.

A mobile wallet is a type of payment service through which businesses and individuals can receive and send money via mobile devices. It is a form of e-commerce that is designed to be used with mobile devices due to their convenience and easy access.

Typically, a mobile wallet works through one of several payment-processing models. These include, but are not limited to:

  • Mobile-based billing: A user sends/receives payment via their mobile service provider (or on the same invoice).
  • SMS-based transactions: The transaction is initiated by sending an SMS short code. In this case, the payment can be credited/debited from the configured bank account, credit card or mobile service.
  • Mobile web payments: This allows a user to send/receive payments via a mobile wallet.
  • Near-field communications (NFC): This process uses a mobile app and special hardware built in to the mobile device to interact with a payment-processing terminal.

Regardless of the model used, a mobile wallet service is generally delivered by and in collaboration with mobile service providers and banks or other financial institutions.

Thales payShield 9000 Compliance is the world’s most trusted payment HSM, used in over 80% of global payment transactions.


  • Establishing a secure root of trust for all financial transactions with complete end-to-end encryption
  • Protecting user credentials, maintaining confidentiality and managing private keys responsible for digital signing
  • Ensuring user PINs are never compromised through stateless design and tamper-resistant hardware
  • Delivering comprehensive, certified security, including enhanced GUI utility to create and manage digital certificates
  • Protecting the bank’s reputation for stability and security
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