Micromax partners TranServ to introduce next-gen payment solutions

Mumbai: With wireless internet connecting millions of Indian consumers and with a vision to create powerful, market-first digital commerce experiences, Micromax, TranServ and Visa, on Thursday announced a strategic partnership to offer the next generation of payments solutions in India.

The three leading brands have come together with an aim to offer unique digital solutions specifically designed to meet the varied demands of the mobile-first Indian consumer.

The three parties have signed a MoU covering this shared strategic vision, which will utilize Micromax’s mobile devices, ubiquitous presence and extensive partner ecosystem in the Indian market.

It will leverage Visa’s unique digital payments products and TranServ’s fin-tech capabilities to promote indigenous digital payment infrastructure.

Using the proposed payment solutions, Micromax users will be able to use mobile-based Push Payments using mVisa, seamless eCommerce payments on merchant and social media applications, 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 enabled by TranServ to create the best payment experiences for customers, be it for social payments or merchant payments.

The 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.