rise launches revolutionary mobile wallet app, ‘Xare’, to deliver one-click debit and credit card payment solutions to users across India

 rise, a leading Dubai based financial services platform, has launched ‘Xare’, a revolutionary mobile app  that allows users anywhere in India and globally to share (xare) their account and credit with their loved ones without any additional costs. With Xare, users can share funds instantly, whilst maintaining complete control of their finances, and without sharing sensitive information.

Xare is different from existing wallets or UPI based players in that it does not move money but moves access to the money. Aimed at increasing financial freedom for individuals, Xare enables users to share money online instantly without any fees and using just the recipient’s phone number or just creating Xare links which can be used to share with multiple people at the same time.. Indian users do not need a UPI identification or a bank account to transfer funds. Users can simply add their debit or credit card details and share money with their children, friends or family.  Xare also empowers individuals to capitalise on their un-used credit card limit by sharing this facility with others.

Padmini Gupta, Co-founder and CEO at Xare, said: “We are delighted to launch ‘Xare’ in India and introduce many of its features as part of our ongoing efforts to revolutionize financial services.  We are committed to providing a myriad of options and solutions to those that have historically been ignored by traditional banks. We have designed this app primarily for expat families offering a hassle-free solution to sharing money. With ‘Xare’ you just need to register using a valid phone number and can then share your debit and credit card with friends and family; it is also possible to make teenagers part of this ecosystem.”

“Months into the pandemic, people have become more cautious about using cash. Digital payments have become the ‘new normal’. Our aim is to give customers access to an innovative new payment method that also enables users to give their tribe credit. While we talk about Xare’s potential to disrupt several key markets – remittances or family sharing or expense accounts – nothing is more thrilling then the idea that our app allows anyone to be a bank to their tribe, anytime, anywhere.”

Still in its beta phase, Xare will be available for online use in India, and globally by early December through the Google Play Store.



Registration takes less than 30 seconds and requires only a valid phone number.  Users just need to select a contact from their phone to share their card, and can set daily or monthly limits, and even expiry dates.  The app’s innovative security system means that card details are never seen by the beneficiary and are not stored by Xare centrally, so they cannot be hacked or compromised. Once issued with a Xare card, beneficiaries can use their card in thousands of stores to purchase more than two billion products globally.

Milind Singh, Co-founder of Xare, commented: “We firmly believe that Xare has the potential to make banking fairer and more humane, and we cannot wait to share our innovative solution with those that can most benefit from it.  Moreover, Indian customers are increasingly choosing to purchase goods and services online, driving e-commerce to reach an estimated $225 billion by 2022  – and platforms such as Xare can help drive this convenience. Another factor is that in our country, credit cards are still considered a product for the comfortable sections of the society and not everyone can avail of its benefits. With Xare, our aim is to provide financial services that benefit the masses. The launch of Xare represents an incredibly exciting time for the financial services sector in India, and globally.”


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