Micromax, TranServ and Visa has announced a strategic partnership and have signed a MoU which will utilize Micromax’s mobile devices to leverage Visa’s unique digital payments products and TranServ’s fin-tech capabilities to promote indigenous digital payment infrastructure.
Micromax users will be able to use mobile-based Push Payments using mVisa, seamless eCommerce payments, interpersonal payments to personal contacts and in the future mobile contactless payments in physical locations through NFC (near-field communications).
The payment solutions will soon be available to Micromax smartphone users through the Udio app.
Udio is a digital wallet allows consumers to shop using a Visa card number linked to the underlying prepaid wallet, wherever Visa is accepted, thereby making the same money available for both for the online and offline payment acceptance.
Vikas Jain, Co-Founder, Micromax said, “Micromax continues to invest for the convenience of its customers, over the years we have been investing time, effort and monies to create a digital experience for our consumers. We have successfully created the hardware, software and services ecosystem for enabling a seamless digital upgrade for our consumers. Digital payments is clearly an important part of our digital experience and services strategy and our partnership with Visa & TranServ further reinforces our commitment to make commerce easier through tight integration with popular services enabling lifestyle of our consumers. We are looking to provide an all pervasive payments layer to our services ecosystem enabling digitalization of the lifestyles of our consumers. With Visa, that has run similar innovation partnerships in other markets, we are excited to be one of the few partners to offer a unique experience to enable the Indian mobile payment ecosystem. Micromax consumers will henceforth enjoy a seamless and delightful digital experience across lifestyle categories like Hospitality, Travel, Healthcare, Entertainment, Ecommerce, money transfers, etc.”