In order to counter National Payment Systems Corporation’s (NPCI) Unified Payments Interface (UPI) which was launched on Monday, leading Indian mobile handset manufacturer Micromax has declared its partnership with Visa and TranServ to make its customers a part of a close eco-system of mobile based payments mechanism.
According to reports, Micromax has decided that it’s every handset would be powered with Udio— a mobile wallet created by TranServ to enable customers to make mobile payments and this in turn help the entire sector.
Notably, TranServ is already in partnership with Visa to enable seamless transactions and payments across any point of sale (POS) terminal which Visa as payment gateway.
The mobile wallet’s unique features include the ability to send small payments to anyone from their address book—a feature which UPI is also reportedly attempting to incorporate.
Besides this, mVisa will allow Micromax’s customers 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.