News about the NFC market in India — trials, pilots, tests and live services.
November 18th, 2015
Indian mobile wallet provider Oxigen Wallet is in talks with Visa, MasterCard and RuPay over launching virtual prepaid cards in the country, Economic Times reports. “Today, a wallet is accepted at a merchant’s platform only if the merchant has agreed to accept it,” chief executive Ankur Saxena said. “This (virtual prepaid card) allows us the freedom to have the wallet accepted anywhere a Visa, MasterCard and RuPay gets accepted. We don’t want our wallet to be limited to X number of merchants; we want it to be used everywhere.”
November 16th, 2015
Indian mobile cab hailing service Ola Cabs has launched Ola Money, which lets customers load funds into a mobile app and use them to pay their fare. “Your Ola Money is automatically deducted when you complete a ride,” the company says. Ola announced plans in August 2015 to apply for a mobile wallet licence from the Reserve Bank of India (RBI).
November 16th, 2015
State Bank of India (SBI) is to launch Batua, a mobile wallet service that works on feature phones, The Economic Times reports. “The bank is also planning to launch another version of Batua for very basic phones which does not offer internet access and does not entail downloading any app.” SBI is one of six banks currently testing a mobile payments service developed by Visa in Bangalore.
November 12th, 2015
Indian mobile wallet provider Paytm is to hire 3,000 people to roll out its payments bank services by the first quarter of next year. “The structure of the executive committee for the payments bank is being given shape, while Paytm awaits a final nod from the Reserve Bank of India,” The Times of India reports. The company agreed a “strategic investment” from Alibaba and its affiliate Ant Financial in September.
November 6th, 2015
Passengers at Mumbai’s GVK Chhatrapati Shivaji International Airport (CSIA) can now navigate through Terminal 2 using a mobile app and interactive maps based on augmented reality and Bluetooth Low Energy (BLE) beacons. “The app works on an innovative platform developed on the combination of Indoor Atlas and iBeacon technologies that creates magnetically modelled maps and provides location-based information,” CSIA says.
October 19th, 2015
Indian payment services provider Citrus Pay has raised approximately US$25m from a consortium of new and existing investors. “The latest round, which closed almost a month ago, values the company around $90m to $100m,” India’s Economic Times reports. Citrus Pay announced a partnership with gift card solutions provider Qwikcilver to enable in-store mobile payments using gift cards and vouchers last month.
October 13th, 2015
Bangalore-based Ultracash Technology Labs has launched a mobile payment service that lets consumers make payments at close to 500 merchants in the city using a high frequency sound-based technology. Some 24,000 transactions were conducted using…
October 9th, 2015
ICICI Bank has become the first Indian bank to launch a mobile payment service based on Visa’s mVisa solution, which was unveiled in August 2015. “With this service, users of Pockets can make cashless payment from their smartphones using their debit card by simply scanning an mVisa QR code at a merchant location,” the bank says.
September 29th, 2015
Chinese e-commerce giant Alibaba and its affiliate Ant Financial are to make a “strategic investment” believed to be worth some US$680m in Indian mobile payment platform Paytm through an agreement with its parent company One97 Communications….
September 28th, 2015
Indian payment services provider Citrus Pay has announced a partnership with gift card solutions provider Qwikcilver to enable its 17m users to make in-store mobile payments using a gift card or voucher generated in Qwikcilver’s…
September 23rd, 2015
India’s mobile wallet market will be worth US$6.6bn by 2020, research from TechSci Research reveals. “The mobile wallet market in India is projected to exhibit exponential growth during the forecast period on account of rising smartphone penetration rate, growing mobile internet user base and increasing government support,” the company says. “Mobile wallet companies operating in India are also offering attractive deals and incentives to attract new users.”
September 21st, 2015
India’s Axis Bank has launched Lime, a mobile wallet that combines banking, shopping and payment services and lets customers make in-store purchases using an encrypted audio signal generated by their device. “The pay feature will allow…
September 17th, 2015
Indian retail conglomerate Future Group is in the process of launching its own mobile wallet, CEO Kishore Biyani has revealed. “In the next two years, we will have more than 40 wallet companies in the country; there has to be value addition in whatever idea you do. We are also launching our wallet now,” Biyani told visitors to the India Retail Forum (IRF), Business Standard reports.
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.