Micromax has partnered with mobile payment company TranServ to introduce a new smartphone based native payment system. With this service, users will be able to conduct financial and social transactions such as sending or requesting money, splitting bills, sending gifts to friends and making payments through native phone integrations, such as contacts in the device address book.
TranServ will be providing an all pervasive payments layer to the service ecosystem that will work beyond Micromax devices. TranServ has also partnered with banks and there will be a Visa card powered by a partner bank that will be offered to Micromax customers, which will allow them to use the service even in offline situations. The service is opt-in and will come pre-installed on future Micromax devices and via a software update to existing devices.
The service will also offer solutions such as micro-loans and other personal financial services. Customers will be able to top-up their digital wallet online or with cash at Micromax and TranServ service network across the country.
Commenting on the partnership, Mr. Vikas Jain, Co-founder, Micromax Informatics said, “At Micromax, we have always believed in bringing more value to our consumers by integrating the best in class services on our devices and this is where the future is. Our vision is to enable users to enjoy a seamless and delightful experience across categories like Hospitality, Travel, Healthcare, Entertainment, E Commerce or Payments where we populate the gaps to map their digital journey to their fulfilled world. The growth in mobile payments has a lot to do with the ease of payment and tight integration with popular services. And our partnership with TranServ will bring Indian consumers, the most convenient & easy way to mirror their life on the fast evolving internet and mobile ecosystem. We have a roadmap to provide integrated services and leverage the mobile as a platform to converge these services. We will continue to invest resources, partnerships, time, effort and money to ensure our customers get what they want and the whole of the ecosystem shifts to meet the requirement of the consumers.”
Speaking on the association Mr. Anish Williams, Co-founder & CEO, TranServ said, “With India emerging as the largest mobile phone user base in the world, the future of payments in India is heavily inclined towards smartphones. TranServ has been championing the cause of reshaping the payments industry and our partnership with Micromax would allow us to collaborate with a leading player who shares our vision of creating a seamless and secure payments ecosystem and enjoin our efforts to help India achieve the status of a cashless economy.”