Micromax Joins Forces With Visa, TranServ For Creating An Ecosystem of Mobile Payment Solutions
Those who are into the business of technology, for example handset manufacturers, know that mobile payment is the single biggest disrupter of the industry. And this is the reason, we may witness some major disruptions in this sector.
On the day when Government of India is all set to launch Unified Payments Interface, which is India’s most powerful and path breaking platform to facilitate easier mobile to mobile payment mechanism; another mobile manufacturer is attempting to disrupt the payments niche by creating an eco-system of such services.
Micromax, one of the fastest growing Indian handset manufacturer has announced their ‘strategic’ partnership with Visa and TranServ which will make every customer of their handsets a part of a close eco-system of mobile based payments mechanism.
Eventually, this will enable Micromax customers to use more mobile payments and this in turn help the entire sector.
Will Will This Partnership Do?
Micromax had earlier announced that from now on, every handset manufactured by them would be powered with Udio, which is a mobile wallet created by TranServ.
TranServ is already in partnership with Visa to enable seamless transactions and payments across any point of sale terminal which Visa as payment gateway.
Now, as Micromax has now partnered with Visa and TranServ, users of Micromax would be now able to use Udio in association with this eco-system powered by Visa.
Some of the unique features of this partnership include the ability to send small payments to anyone from their address book; a feature which UPI is also attempting to introduce.
Besides, mVisa will allow users of Micromax to enable Push Payments as well, thereby integrating offline with online payments platform. The only needs to add the associated Visa card number once in their mobile app, and this will trigger a host of services and options which would be only available for Micromax users.
Earlier this year, TranServ had launched Udio, which was hailed as India’s first social-mobile wallet as it integrated features of social media, on the backdrop of wallet.
With Visa becoming a partner with TranServ and Micromax, a mobile payment industry is looking at a new form of disruption.