Hike users will have access to the bank's vast product line including merchant and utility payments, it added.
The SoftBank-backed app, which has over 100 million registered users, saw over 30 per cent month-on-month growth for its wallet service.
Hike Messenger VP (Product) Pathik Shah said the company has seen tremendous traction on the wallet over the last few months, most of it being organic.
It is on track for over 5 million transactions this month with services like Recharge and peer to peer transactions, he added.
"As we scale up the number of services on our platform in the coming months, we expect this to grow even faster," he said.
In light of the new KYC guidelines of Reserve Bank of India for mobile wallets, the partnership will ensure that users have an uninterrupted service when the new guidelines kick in, Shah added.
Hike was launched in December 2012. In August 2016, in its fourth round of funding, Hike raised of $175 million. The round was led by Tencent and Foxconn at a valuation of $1.4 billion, having reached the milestone in just under years.
Investors in Hike also include Tiger Global and Bharti.