Hike will also allow those who don't actively use a bank account to send and receive money from friends through the wallet.
The company will measure the consumer demand through the number of mobile recharges its over 100 million base will do, through the wallet backed by Yes Bank, which is integrated with the unique payment interface (UPI). Blue packets is an envelope that users can insert money into and send to their friends. Users can send these to friends or family on special occasions and add personalised messages.
With Recharge option, users can also recharge their phones and pay their post-paid bills.
Hike 5.0 will be launched to all iOS and Android users on Sunday, 25 June.
With Blue Packets, we're going to change the way people send and receive money.
"Hike 5.0 is the biggest update we've released in the history of Hike". Imagine, if the person doesn't have a bank account, the amount transferred by you will be stored in the recipient's Hike Wallet.
The networking app has given large emphasis on personalisation for which they have introduced "App Themes", which will enable the users to choose from over 11 themes that are a combination of a color and pattern. We believe we can make that experience fun and also a new form of messaging.
Additionally, Hike is bringing back Timeline in its original form. We believe so. That's the idea.
Last but not the least, version 5 of Hike is reintroducing the app's social network-like features, which took a hike previous year, when Snapchat-esque Stories (48 hours and not 24 hours) was launched. It could be from a simple Thank You or Congratulations to a Happy Birthday. The Magic Selfie feature in Hike 5.0 uses machine learning technology to smoothen user's skin and make it radiant. UPI, stands for Unified Payments Interface, launched by the National Payments Corporation of India (NPCI) in August past year to accelerate the adoption of digital payments in the country. This partnership will instantly provide UPI access to over 100 million Hike users and provide a significant fillip to India's digital payments ecosystem. "We hope with Blue Packets we can give our users a new avenue to express themselves".