Under the terms of the agreement, Micromax users will be able to use mobile-based push payments using mVisa and make e-commerce payments on merchant and social media applications as well as interpersonal payments to personal contacts.
In the future, the companies will also look at launching mobile contactless payments in physical locations via NFC (near-field communications).
According to Micromax, the payment solutions will soon be available to Micromax smartphone users through the Udio app.
Udio is a digital wallet enabled by TranServ. It allows consumers to shop using a Visa card number linked to the underlying prepaid wallet, wherever Visa is accepted.
In December 2015, Micromax has partnered TranServ to launch India’s first smartphone based native payments solution.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now