Blockchain-based mobile payments app launched in India

New Delhi: Blockchain seems to be creeping into more aspects of our daily lives. A mobile app has been launched on the iOS platform that uses blockchain technology to allow users to pay for various utilities. LALA World, a Singapore-based fintech company, has launched the blockchain and artificial intelligence-based payments app for iOS users in India and the UAE. Through this app users can pay for utilities like electricity, DTH, and phone bills. The app is already available on the Android platform through the Play Store.

What the app offers
iOS users can download it from the App store. The application requires users to create a LALA ID on the app which would be blockchain based and universally accepted, as per a release from the company.

According a press release issued by LALA World, the app will allow Indian users to avail services like paying for prepaid and postpaid phone bills, landline bills, DTH, and data card top-ups and online recharges offered by 29 different services providers. "We launched the iOS version of the LALA World App to ensure that iPhone users in India and UAE get hassle-free access to financial services across multiple geographies. The app's interface is easy to understand and use while offering high levels of security and efficiency being based on blockchain," said Sankalp Shangari, CEO, LALA World.

As of now you can only use the app to pay for utilities. You cannot use it to transfer or lend money.

How to use the app

• Download the LALA World app from the App Store.
• Once you open the app, you will have to create an account. You can login using your Facebook account as well.
• When you login for the first time, to create the account you will have to enter your name, mobile number, and email. After this you will get an OTP on the number you have given.
• After entering the OTP, you will be asked to create a six-digit PIN. You will enter this PIN every time you want to use the app.
• You will be taken to home screen. There you can see your user name and LALA ID.

• To start transacting you will have update your know-your-customer details. You will have to update it within 48 hours.