Owned and operated by DFCC Bank and developed by Synapsys, the Vardhana Virtual Wallet is a digital application that can be downloaded onto a mobile device, connecting consumers to merchants and other consumers. This solution enables users to send and receive electronic cash, thus simplifying their shopping experiences and helping them to stay in control of their finances. Its many uses include purchasing goods and services, paying utility bills, transfering funds between Wallets, withdrawing cash and topping up cash from designated merchant outlets or from the Bank account linked to the Wallet. All these features could be accessed while on-the-go from a data enabled mobile device. Funds can be maintained in the Virtual Wallet to conduct transactions, eliminating the need to carry any other payment instrument.
This product also has great benefits for merchants regardless of their scale or scope of operation, as mobile payments is a fast growing trend. Some of the benefits include reduction of operating costs, the ability to earn attractive commission income and the ability to create a consumer-centric shopping experience may it be at the merchant's premises or at the door step of a consumer. Thus their brand proposition is further enhanced.
DFCC Bank CEO Arjun Fernando said DFCC Bank has evolved and diversified to meet the changing needs of customers and the nation. Our progress and achievements have resulted in many firsts, and the introduction of the Virtual Wallet is a financial inclusion enabler and yet another first in the country's banking industry.”
The Bank's personal account holders need to only submit a duly completed form and on receiving confirmation from the bank, may download the Vardhana Virtual Wallet digital application to their device from Apple iStore or Android Play Store. Further assistance can be obtained by calling DFCC's customer care hotline. On activation of the Virtual Wallet, the user can login with the registered credentials and start using the Wallet to experience its sheer convenience. Merchants also can register in the same manner, where they can additionally login through a mobile connection or PC and laptop connected to the Internet depending on the nature of their business.
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