Money-on-Mobile M-wallet service launches for Indian consumer market
| by Naina Khedekar |
My Mobile Payments Ltd (MMPL) has introduced its new M-wallet service for Indian users, called Money-on-Mobile. Though the trend of mobile money is still at a nascent stage, it is expected to grow with the increasing number of mobile devices. This service, for the Indian market allows mobile phone subscribers to purchase a wide range of goods and services through their phone, instead of paying by cash, cheque, debit or credit cards.
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Elated about the entry in the consumer market, Shashank Joshi, Managing Director of Money-on-Mobile expressed, “We are happy to launch our services in one of the fastest growing mobile markets. In a country like India where mobile phones are more widespread than the financial systems, mobile payment is the next big alternative payment method. MOM does all paperless transactions and it is in line with RBI’s vision of making 70% of the financial transactions paperless by end of 2012. MOM is committed to ensuring consumers the ability to make safe, convenient and flexible payments thus empowering them to – Stop at nothing. Pay for anything.”
Tags: mobile money , Money-on-Mobile , Money-on-Mobile India , Money-on-Mobile payment , Money-on-Mobile retail points , Money-on-Mobile m wallet , payment through phone , load cash on phone , pay with phone
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