Bangalore-based Novopay Solutions has launched a mobile wallet that aims to transfer or remit money on a peer-to-peer basis. The wallet can be used to make payments for utilities, mobile phones and local shops.

The Novopay wallet can be loaded using credit or debit cards or with the existing bank accounts. For people whose wallets will have the know your customer (KYC) certification, would be able to withdraw up to Rs 100,000 in a month while for non-KYC users the withdrawal limit is Rs 10,000 per month. Users will be required to pay a fee for the same which would be less than one per cent of the load value.

Further, the app will use the Aadhaar platform for validating KYC norms as well as the two factor security authentication that is used by Aadhar.

The service will not be restricted to smartphones and will be available for feature phones as well. The wallet has also partnered with Ratnakar Bank Limited (RBL), which will enable cash withdrawal or loading cash at Novopay's network of around 10,000 outlets. Apart from its own outlets, Novopay has also partnered with companies such as Ezeetap and Innoviti which will take these solutions to the market.