Micromax has become the first indigenous company to provide mobile payment solutions in the country. Micromax has launched today India’s first smartphone based native payments solution in partnership with leading mobile payments company TranServ to roll out a series of payment solutions specifically designed to meet the varied demands of the mobile consumers of India.
This partnership will enable Micromax smartphones users to conduct financial and social transactions such as sending or requesting money, splitting bills, sending gifts to friends and making payments through native phone integrations, such as contacts in the device address book.
By partnering withTranServ, Micromax is providing an all pervasive payments layer to the services ecosystem further ensuring that the users have a platform which is available to them even beyond Micromax devices. TranServ has also partnered with banks to further expand the financial services being offered. There is definite plan to provide Micromax consumers with a Visa card powered by a partner bank that will allow users to experience ubiquitous payments across online as well as offline merchant establishments, as stated by the company in its press statement.
The partnership will see a roll out of unique digital financial solutions such as micro-loans & other personal financial services. With the number of mobile wallet users in the country already exceeding the credit card users, the association between TranServ and Micromax marks the beginning of the first consolidated steps towards the foundation of a holistic digital payments ecosystem. The two companies have also built a large offline network of retail points providing customers an option to top-up their wallets using cash ensuring that customers across the country including interior India experience frictionless digital payments, world class convenience, highest levels of security and rich rewards, adds the statement
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