Gurgaon-based One MobiKwik Systems Private Limited, which owns the mobile recharge and payments platform MobiKwik, is planning to apply for a payments bank licence. According to the company, its payments bank service will be supplement the mobile wallet offered by the company to around 12 million customers.

In order to establish a payments bank, the company is planning to enter into strategic partnerships with potential companies including banks that have physical touch-points for educating first-time mobile wallet users. Further, it intends to offer interest rates similar to those offered on savings accounts by banks.

In the long term, MobiKwik is working towards turning its mobile wallet into a full-fledged savings account, which will provide mobile banking solution and allow the customers to transfer money to other wallets or bank account holders, apart from making payments at various merchant outlets connected to the company's wallet services.

At present, the guidelines of the Reserve Bank of India (RBI) do not permit cash withdrawals from mobile wallets. However, a payments bank will be allowed to offer such a service apart from taking deposits of up to Rs 100,000 and offer locker and vault facilities. According to RBI, companies can apply for a payments bank licence till February 2, 2015.