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- By Parinda News Bureau, June 08, 2006, 11:15 IST
Times Money, part of the Times Group launched Wallet365.com, an e-wallet with which online payments can be made.
Wallet365 allows users to send and receive money from anyone. So, for instance, you can now even transfer money to a friend who holds a bank account that's different from yours. Or settle your telephone or electricity bill or even buy merchandise on an e-auction without stepping out of your home.
At the Taj Land's End in Mumbai, Amitabh Bachchan launched the Wallet365 service.
The Times Group claims that this is a more convenient and secure way to electronically handle a plethora of payments. All you need is just a valid email id. And you don't need a credit card or pay any sign-up fee either.
The 128-bit encryption and the VeriSign certification ensures that the Wallet365 service is safe and secure for users, according to Times Money. The Wallet365 service takes e-commerce beyond credit cards and customers no longer need to bother about sharing confidential credit card data online. Customers can also use their bank accounts on Wallet365.com.
"Wallet365.com will energise, catalyse and revolutionise e-commerce like never before. Going beyond credit cards, it will take the fear out of the user's mind and will drive people to make more and more transactions on the Internet. This is yet another Times Group offering right in step with the times," said Vineet Jain, managing director, Times Group.
Reportedly this service is similar to Paypal. It has been set up in a tie up with Yes Bank.
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