Micromax, TranServ and Visa, today announced a strategic partnership to offer aÃ‚Â mobileÃ‚Â payment solution for its customers in India.
The three leading brands have signed a memorandum of understanding (MoU) to utilise MicromaxÃ¢â‚¬â„¢s mobile devices, ubiquitous presence and extensive partner ecosystem in the Indian market.
MicromaxÃ‚Â users will be able to use mobile-based Push Payments using mVisa, and make interpersonal payments to personal contacts.Ã‚Â The company also says that it is working on a future product where customers can doÃ‚Â contactless payments through NFC on their smartphones.
The payment solutions will soon be available to Micromax smartphone users through the Udio app. Udio is a digital wallet enabled by TranServ. The wallet allows consumers to shop using a Visa card number linked to the underlying prepaid wallet, wherever Visa is accepted. The wallet can be used both online and offline.
Commenting on the partnership, Vikas Jain, Co-Founder, Micromax said:
Ã¢â‚¬Å“Digital payments are clearly an important part of our digital experience and services strategy and our partnership with Visa & TranServ further reinforces our commitment to make commerce easier through tight integration with popular services enabling lifestyle of our consumers. We are looking to provide an all pervasive payments layer to our services ecosystem enabling digitalisation of the lifestyles of our consumers,Ã¢â‚¬Â
Anish Williams, Co-founder & CEO, TranServ added,
Ã¢â‚¬Å“At TranServ we aim to build solutions which contribute towards a holistic and secure payments ecosystem. The partnership with Visa and Micromax gives a major boost to that vision and will help develop products that will revolutionize the countryÃ¢â‚¬â„¢s digital payments landscape,Ã¢â‚¬Â
Chris Clark, Group Executive, Asia-Pacific, Visa Inc commented,
Ã¢â‚¬Å“Mobile payments are part of the future of payments and their rapid adoption will be instrumental in helping India move towards a cashless society,Ã¢â‚¬Â