With approximately 1700 retail outlets, mRupee is currently available across 11 cities through its strategy tie-up with ICICI bank and serves as an alternative to cash or card payment. mRupee provides domestic remittance services available as self-initiated or retailer assisted. Consumers can walk into any MMP outlet and deposit cash and provide details of a payee to remit money. In addition to enabling money transfers, mRupee can also be used to pay utility bills, shop online, on mobile or at retail outlets and pay using a mobile device. mRupee is set to be available on web, WAP, as a mobile application, USSD and via IVR as an operator agnostic service.
MMP allows consumers to transfer money without opening an account. MMP has received the Reserve Bank of Indias approval in December 2011, to offer the prepaid payment instrument dubbed the mRupee.
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