The leading Indian handsets brand 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.
Commenting on the partnership, Mr. Vikas Jain, Co-founder, Micromax Informatics said, “At Micromax, we have always believed in bringing more value to our consumers by integrating the best in class services on our devices and this is where the future is. Our vision is to enable users to enjoy a seamless and delightful experience across categories like Hospitality, Travel, Healthcare, Entertainment, Ecommerce or Payments where we populate the gaps to map their digital journey to their fulfilled world. The growth in mobile payments has a lot to do with the ease of payment and tight integration with popular services. And our partnership with TranServ will bring Indian consumers, the most convenient & easy way to mirror their life on the fast evolving internet and mobile ecosystem. We have a roadmap to provide integrated services and leverage the mobile as a platform to converge these services. We will continue to invest resources, partnerships, time, effort and money to ensure our customers get what they want and the whole of the ecosystem shifts to meet the requirement of the consumers.”
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.
