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    India

    News about the NFC market in India — trials, pilots, tests and live services.

    India Post to enable Aadhaar money transfers

    February 24th, 2017

    India Post is to allow consumers to send and receive money using only their Aadhaar number from September 2017, when the government-operated postal system launches its own payments bank. “We will bring out a solution to make Aadhaar a payment address,” IndiaPost CEO AP Singh told The Economic Times. “People who already have an Aadhaar should be able to receive payment from any source.”

    India’s Mobikwik aims to triple user base in 2017

    February 23rd, 2017

    Indian mobile wallet MobiKwik is to invest Rs 3bn (US$45m) to triple its user base and raise the total volume of transactions on its platform to $10bn in 2017, The Times of India reports. “MobiKwik said the investment will help it triple its user base to 150m and drive up annual gross merchandise value by year end from the current $2bn,” the report says.

    Mahindra Comviva launches biometric payments solution for rural Indian merchants

    February 22nd, 2017

    PARTNER NEWS: Mobile financial solutions firm Mahindra Comviva has launched PayPlus Aadhaar Pay, a merchant payment acceptance solution designed for rural India that will enable merchants to accept in-store payments through Aadhaar numbers and biometric-based… More

    NPCI, Mastercard and Visa unveil standardised QR code mobile payments for India

    February 21st, 2017

    Indian consumers can now make QR code-based mobile payments using BharatQR, a “low cost, interoperable mobile acceptance solution” backed by the Indian government and developed by Mastercard, Visa and National Payments Corporation of India (NPCI)…. More

    Magazine focuses on Indian demonetisation and mobile money

    February 20th, 2017

    PARTNER NEWS: A 36-page magazine featuring articles about the post-demonetisation era in India and the best practices for enhancing the customer experience of using mobile money is now available to download from the NFC World Knowledge Centre. The latest issue of the quarterly Vritti magazine has been produced and sponsored by Mahindra Comviva and has been approved by the NFC World editorial team.

    Paytm expects up to 30% fall in offline customers

    February 17th, 2017

    Indian mobile wallet Paytm “expects to lose 20-30%” of customers making offline payments using QR codes, OTP or mobile-to-mobile transfers when the Reserve Bank of India removes cash withdrawal limits on March 13, The Financial Express reports. “We [will] still have a larger offline than online category, and that’s where the business is for us,” says Paytm founder Vijay Shekhar Sharma.

    What’s New in Payments: Leading international innovators explain the latest payments trends and technologies in free special report

    February 16th, 2017

    Senior executives from Starbucks, Pizza Hut, Barclaycard, Swatch and CaixaBank are among 12 leading payments innovators who have contributed to What’s New in Payments, a 104-page special report that is now available to download free… More

    More than 150,000 Kenyan merchants to get mobile payments with Masterpass QR

    February 14th, 2017

    More than 150,000 micro, small and medium enterprises (MSMEs) in Kenya will be able to accept in-store mobile payments using QR code technology in 2017, using Mastercard’s Masterpass QR platform. The service is set to… More

    India to equip half a million ration shops for Aadhaar payments

    February 13th, 2017

    All 558,000 ration shops across India will be enabled to accept Aadhaar-based payments by June 30 this year, The Times of India reports, with all those in Gujarat, Andhra Pradesh and Rajasthan states already Aadhar-enabled. The government wants to bring all citizens under the biometrics-based ID system within the same timeframe, adding it will “not force it on people”, the report adds.

    India to ‘skip card era’ for mobile payments

    February 13th, 2017

    Mobile and digital payments will overtake physical card payments as the predominant non-cash payment mode in India this year, Deloitte India predicts. “Demonetization may well be the catalyst that sees semi-urban and rural markets in India skip the ‘card era’ and leapfrog directly to ‘mobile payments era’,” the research firm says.

    Paytm targets 10m Indian mobile payments merchants

    February 13th, 2017

    Indian mobile wallet provider Paytm wants to increase the number of stores where its QR code-based service is available from 3.5m to 10m. “The number of offline merchants in November was close to 1 lakh (100,000) and the company had hired 10,000 field-force to ramp up the number of offline users post demonetisation,” Economic Times reports.

    Indian mobile wallets seek common QR code

    February 13th, 2017

    Indian mobile wallet providers have approached the National Payments Corporation of India (NPCI) to identify how to develop a common QR code for NPCI’s Unified Payment Interface (UPI) platform. “A common QR code is important, as it will facilitate e-wallets to have interoperability under the UPI,” Live Mint reports.

    Samsung Pay to get Amex support for India launch?

    February 6th, 2017

    Samsung is partnering with American Express for the launch of Samsung Pay in India, expected in the first half of 2017, according to a source quoted by Mashable. The company may be “exploring opportunities with giants such as Visa and Mastercard as well,” the publication adds. Reports that Samsung Pay is currently preparing to launch in India emerged last week.

    Indian government unveils sweeping proposals to reduce the use of cash

    February 2nd, 2017

    The Government of India has introduced a series of incentives designed to encourage consumers and businesses to adopt digital and mobile payments and significantly reduce the use of cash in the economy — including plans… More

    India Budget: New measures to promote mobile payments

    February 1st, 2017

    The Indian government has unveiled new measures to promote a digital economy during its 2017 Budget speech, including “the imminent launch of Aadhaar Pay, a merchant version of the Aadhaar-enabled payment system”, The Times of India reports. Two new schemes will be launched to promote the use of the BHIM mobile payments app, while “the government decided to remove all duties on point-of-sale devices, fingerprint readers and similar devices” to promote cashless transactions.

    Samsung Pay preps for Indian debut

    February 1st, 2017

    Samsung Pay is preparing to launch in India. “A message that says ‘The future of payments is coming soon!’ pops up as soon as you start using the Galaxy S7 or Galaxy S7 Edge running Android 7.0 in India,” SamMobile reports. “If you dig a little deeper, you can find the Samsung Pay app installed on the phone, which is proof enough that the South Korean electronics giant is almost ready to launch Samsung Pay in India.”

    Indian banks sign up for Aadhaar Pay

    January 31st, 2017

    More than 14 banks have signed up to support Aadhaar Pay, a service set to be unveiled by the Government of India that will enable consumers to receive and make payments using biometrics. “They can visit any merchant, share their Aadhaar number and verify themselves using biometrics to pay and receive money,” law and IT minister Ravi Shankar Prasad told a press conference reported by Live Mint. Aadhaar Pay will be available through the BHIM mobile payment service launched in India by president Narendra Modi earlier this year.

    One fifth of global consumers have made an in-store mobile payment as China leads the way

    January 31st, 2017

    Nearly one fifth of global consumers (18%) have made an in-store mobile payment in the past six months, representing an increase of 10% from the same period in 2014, research released by trade body Mobile Ecosystem Forum (MEF) reveals. Chinese consumers lead the way, with 38% of them having paid with their phone at the point of sale — nearly double the global average. More

    Indians to get mobile wallet insurance

    January 30th, 2017

    Indian mobile wallet providers may soon be required to insure their customers’ money. “The government is mulling over bringing insurance into the segment, on the lines of debit and credit cards,” Business Standard reports. “It has already held three meetings with mobile wallet and insurance companies and hopes to bring in the new regulations to make it mandatory for mobile wallets to insure money. The Ministry of Electronics and Information Technology will soon come out with the rules.”

    Indian bank customers to open accounts with eye scans

    January 27th, 2017

    Customers of DCB Bank in India will be able to carry out transactions such as opening a bank account by having their eyes scanned and verified against the country’s Aadhaar biometric ID database. “A bank representative points the camera at the person’s eyes for about three to five seconds and the Aadhaar details are retrieved from the Aadhaar database,” The Economic Times reports. The feature will roll out to nearly 250 branches in the next six months.

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