India's HDFC bank is offering countrywide mobile payments service by partnering with Visa and Monitise.
Set to revolutionise mobile payments services in India, the new offering can operate across all mobile networks using any Visa or non-Visa branded payment account.
HDFC Bank customers will now be able to pay bills, top up prepaid airtime and buy tickets from their mobile phone.
The companies claim the new service can be used by any mobile subscriber, anywhere and accessed by even the most basic mobile phone.
Initially, this service is being offered to a select number of valued customers and it will later be rolled out across the country.
"Wave goodbye to waiting in long queues or visiting post offices or payment machines to pay bills as you will now be able to do that right from your mobile phone," said Naushad Contractor, Movida's president and head of the Monitise and Visa joint venture in India. "This service is going to drastically reduce the time & energy Indians waste every day waiting to pay bills."
Easiest services to use
Touted as the easiest services to use, the new mobile payments service uses menu-based Unstructured Supplementary Service Data (USSD) mobile technology allowing completion of transactions in only a few steps.
Millions of Indians can now become part of the digital age via their basic prepaid mobile phone.
Ensuring the security of the transactions is important and thus engineers have included various security measures in the system to maintain account integrity, including a unique PIN number set up on the phone to access the account information.
"HDFC Bank has always been at the forefront of technology to ensure that our customers have greater choice and convenience at their disposal," said Rahul Bhagat, head-retail liabilities, marketing & direct banking channels, HDFC Bank.
"This service reaffirms HDFC Bank's commitment to bring the latest service and convenience to our customers. All our customers throughout the country can now pay their bills and top up talk time with a few clicks of their mobile phones. This will save them considerable time and help them focus on more important things in life."
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