News about the NFC market in India — trials, pilots, tests and live services.
September 1st, 2015
India’s biometrics market is projected to grow at a compound annual growth rate (CAGR) of over 35% from 2015 through 2020, according to TechSci Research. “Fingerprint biometrics is the largest market segment in terms of revenue contribution, followed by iris and facial recognition,” the company says. “Voice recognition is the fastest growing segment on account of rising application in banking and integration in handheld devices.”
September 1st, 2015
Taxi service Uber is to introduce its own mobile payment wallet in India, Times of India reports. “At present, consumers can pay for Uber trips via Paytm wallet. It [Uber] recently tied up with Airtel Money to facilitate payments via the latter’s wallet. The latest plan is in line with the firm’s ambition to make India its second biggest market after the US.”
August 28th, 2015
Indian mobile wallet provider Oxigen Wallet has partnered with loyalty program provider PayBack to allow customers to earn PayBack points and redeem them as cash, to make online and bill payments. As well as payments, Oxigen Wallet lets users send and receive money through social network channels, and to and from mobile phone numbers, and is certified by the Reserve Bank of India (RBI).
August 11th, 2015
Indian mobile payment provider ToneTag, which enables contactless payments through mobile phones using sound waves or NFC technology, has raised US$1m from Reliance Capital. “ToneTag works on all mobile devices including feature phones and does not require any capital investment in existing infrastructure,” Iamwire reports.
August 10th, 2015
Indian advertising platform InMobi has unveiled Miip, a platform that can be integrated into mobile apps to allow users to make payments through buy buttons on product ads. The company has partnered with “several partners” to pilot the platform, including Amazon and India’s largest mobile wallet provider Paytm. “Miip will be available for all customers over the next few months,” InMobi says.
August 10th, 2015
Bangalore-based Ezetap has raised Rs150crores (US$23.5m) to expand its mPOS solution of configurable mobile app and card reader that plugs into a merchant’s mobile device. “Ezetap is already activating over 500 new small retail merchants a week and will use some of its funds to increase that by five times in the next few months,” the company says.
August 6th, 2015
India’s Axis Bank, HDFC Bank, ICICI Bank and State Bank of India (SBI) are to pilot a mobile payment service developed by Visa this summer that will let select customers make in-store, online and bill payments as well as send and receive money using their mobile devices.
August 6th, 2015
Walmart is the latest retailer to support in-store payments from mobile wallet service MobiKwik in 20 of its Best Price Modern Wholesale stores in India, following WHSmith and India’s largest retailer Big Bazaar. MobiKwik “will allow instant one-tap payments for transactions placed through the Best Price mobile app and … via the MobiKwik wallet on the Walmart Best Price website and in physical stores,” it says.
August 4th, 2015
Indian mobile cab hailing service Ola Cabs is reportedly planning to apply for a mobile wallet licence from the Reserve Bank of India (RBI). “Ola currently offers Ola Money as a digital payment option on its mobile app using payment technology powered by PayU and ZipCash Card Services,” Livemint reports. “If Ola gets the nod from RBI, it can offer the wallet on its app as well as other apps it plans to launch.”
July 24th, 2015
One in six consumers find usernames and passwords “cumbersome” and 77% are interested in using alternatives to protect their security on the internet, research from Accenture reveals. More than half (58%) say they are interested…
July 22nd, 2015
Mumbai-based LivQuik, the company behind mobile payment service QuikWallet, has raised US$1.6m from existing investor Snow Leopard Ventures to scale its team, technology and merchant base. “Payment options include SMS, NFC, QR codes, mobile applications and POS software,” IndianWeb2 reports. “Currently, it caters to 1,000 merchants. It has around 100,000 users.”
July 17th, 2015
One97 Communications, owner of mobile payment platform Paytm, has asked Reserve Bank of India (RBI) to increase the limit on money that can be kept in a mobile wallet to Rs 25,000 (US$393) from Rs 10,000 (US$157). “One97 Communications, which has investment from the Alibaba group, is also building a mobile marketplace and aims to have half a billion Indians on the Paytm platform before 2020,” Times of India reports.
July 13th, 2015
India’s largest retailer Big Bazaar has become the latest to support in-store payments from mobile wallet service MobiKwik at more than 240 locations, following in the footsteps of WHSmith India. “In the coming quarter, MobiKwik also plans to extend this partnership to other offline stores under the Future Group umbrella and is expected to total close to 150m transactions annually,” MobiKwik says.
July 10th, 2015
More than 17m users of Indian mobile wallet service MobiKwik will be able to make in-store payments at 55 WHSmith India stationery and book stores, the first time the service has been available for payments…
June 24th, 2015
Merchants in India accepting electronic payments could be offered a tax rebate, a government proposal suggests. Fees for cash handling could increase, meanwhile, as part of an effort to encourage electronic payments, defined as those done “through means of cards, mobile wallets, mobile apps, new banking, Electronic Clearing Service (ECS), National Electronic Fund Transfer (NEFT), Immediate Payment Service (IMPS) or other similar means”.
May 27th, 2015
India’s largest private sector bank ICICI Bank has become the first in the country to launch a voice recognition-based service, allowing more than 33 million customers to make banking transactions through the bank’s call centre by authenticating themselves using their voice. “Our decision to invest in this new technology was primarily driven by the objective of enhancing the everyday banking experience of our customers,” said CEO Chanda Kochhar.
May 19th, 2015
India’s Axis Bank is to enable all of its 50,000 merchant point-of-sale terminals to accept contactless payments by the end of this year in order to “facilitate significant usage of contactless NFC-based cards issued by all banks”. The move follows the Reserve Bank of India’s relaxation of its requirement for two-factor authentication for contactless payments up to a value of Rs2,000 (US$31).
May 15th, 2015
Contactless users in India can make payments of up to Rs2,000 (US$31) without using a PIN, following the Reserve Bank of India’s relaxation of its requirement for two-factor authentication. “Beyond this transaction limit the card has to be processed as a contact payment, and authentication with PIN will be mandatory,” the bank says. “Banks have been advised to put in place suitable velocity checks as considered appropriate.”
February 11th, 2015
National Payments Corporation of India (NPCI) has published the first draft of a specification that will be used to introduce an electronic payments system that leverages both mobile payments and Aadhaar, India’s biometrics-based ID system. “This Unified Payment Interface document provides a payments architecture that is directly linked to achieving the goals of universal electronic payments, a less cash society and financial inclusion using the latest technology trends,” NPCI says.
January 15th, 2015
Alibaba is in advanced talks to buy an approximately US$500 million stake in One97 Communications, the parent company of Indian mobile payment platform Paytm. “Both Alibaba Group Holding’s e-commerce arm and its online payments unit Alipay are set to participate in the transaction, which will conclude later this month,” the Financial Times reports. When NFC World+ contacted Alibaba for information the e-commerce giant said it has “no comment to offer on this matter”.