Micromax informatics Limited has partnered with TranServ to launch the first smartphone based native payment solutions in India. Under this partnership, the companies will be rolling out a series of payment solutions specifically designed to meet varied demands of mobile-first Indian consumer.
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, Ecommerce 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 commented:
“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.”
According to Micromax, this will be the India’s first smartphone based native payments solutions whereby users will be able to conduct financial & 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 has also partnered with banks to further expand the financial services being offered. In addition to this, in future there are plans by which Micromax consumers will get a Visa card which is powered by a partner bank.
In addition to this, the partnership will see a roll out of unique digital financial solutions such as micro-loans & other personal financial services. Apart from this, the two companies also built a large offline network of retail points providing customers an option to top-up their wallets using cash ensuring that customers across the country including interior India experience frictionless digital payments, world class convenience, highest levels of security and rich rewards.