Handset maker Micromax will soon begin offering its customers in India an NFC mobile payment service through a collaboration with Visa and payment solutions provider TranServ. The three companies have signed a memorandum of understanding (MoU) to promote a “digital payment infrastructure” in the country which will begin with a roll out of TranServ’s Udio mobile payment app and the mVisa platform.
The mVisa platform, which was launched in India in August 2015, will be built into the Udio mobile app and will come preinstalled on Micromax smartphones so users can start making payments by scanning QR codes at the point of sale.
“Using the scan and pay feature of mVisa, Udio users will be able to make payments at merchant stores using the balance stored in Udio Wallet,” TranServ explained to NFC World. “Udio Wallet will be part of Micromax phones and go beyond a simple app preload — this will be a much deeper native integration.”
Consumers will be able to load their Udio Wallets using credit and debit cards as well as by depositing cash at Udio Physical top-up points. NFC is part of the companies’ “near term roadmap”.
“We have successfully created the hardware, software and services ecosystem for enabling a seamless digital upgrade for our consumers,” says Vikas Jain, co-founder of Micromax. “Digital payments is clearly an important part of our digital experience and services strategy and our partnership with Visa and TranServ further reinforces our commitment to make commerce easier.”
“Mobile payments are part of the future of payments and their rapid adoption will be instrumental in helping India move towards a cashless society,” adds Visa’s Chris Clark.