Mobile payment services are gradually gaining grounds in the Indian market. Global payment companies, banks, telecom vendors and mobile financial solution providers are keen to grab the market share of the Indian mobile payments market, which is seen as the next bastion of growth through mCommerce. To cash in the opportunities present in this segment, Bharti Airtel has roped in Infosys to power its mobile wallet services.
On the launch Rohit Malhotra, CEO, Karnataka Bharti Airtel said “This will be our USP going forward as it helps in financial inclusion.” He added that with increased mobile phone penetration in rural areas, this could be a good market for the service. Under this partnership, Airtel will deploy Infosys’ WalletEdge technology to support cashless payments. The mobile commerce offering serves as an alternative to cash/ card payments online, after the user loads cash on to his account. The account can be recharged either through retail outlets- similar to recharging a prepaid account, or using net banking facilities from the user’s bank account.
Once the cash is loaded in the account, Airtel customers can pay bills, recharge accounts, shop at over 7,000 merchant outlets, transact online through multiple channels including mobile phones, Interactive Voice Response, ATMs and Point of Sale. The Infosys platform is a scalable platform capable of supporting millions of transactions annually in a secure environment. Delivered through a private cloud, it creates a shared services framework that allows members of the ecosystem to process payment instructions seamlessly and cost efficiently.
V. Balakrishnan Member of the Board, Infosys, said, “The game-changing mobile commerce platform will also unleash new market opportunities for Bharti Airtel in the digital commerce space.” Earlier this year, HDFC Bank and Movida had launched a mobile payment service that allows customers to make payments through their mobile phones.