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Oct, 08 2015

TinyOwl partners with Citrus to start its own wallet

MyWallet is a closed digital wallet solution, meaning users will not be able to use funds stored on the service on platforms other than TinyOwl.

By RI Bureau

TinyOwl, the Mumbai based food ordering service has partnered with payments solution start-up Citrus to power its own in-app digital wallet called MyWallet.

The new feature will allow customers to make payments and also get instant refunds on cancelled orders.

“We have seen that across industries, major customer dissatisfaction happens due to challenges in refunds, “said Harshvardhan Mandad, co-founder and chief executive, TinyOwl.

MyWallet is a closed digital wallet solution, meaning users will not be able to use funds stored on the service on platforms other than TinyOwl.

Other players such as ride-hailing service Ola, too, have launched their own digital wallet services, which after gaining certain amount of traction the company opened to other e-commerce services as well.

The digital payments space is growing ever crowded with players such as Paytm, Mobikwik and even traditional banks that have launched wallet apps.

It is to be seen if TinyOwl makes a similar move to open up its mobile wallet service to third-party services in the future.

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