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Micromax, Transerv & Visa Join Hands To Offer Mobile Payment Solution

Micromax, Transerv & Visa Join Hands To Offer Mobile Payment Solution

Micromax has recently announced its plans of shifting its focus from handset maker to a company focusing on services ecosystem.It has also announced a strategic partnership with TranServ and Visa.

The three brands have signed a MoU to offer unique digital solutions specifically designed to meet the demands of the mobile-first Indian consumers.

Vikas Jain, co-founder of Micromax said, “Digital payments is clearly an important part of our digital experience and services strategy and our partnership with Visa & TranServ further reinforces our commitment to make commerce easier through tight integration with popular services enabling lifestyle of our consumers.”

Under this partnership, Micromax’s mobile devices will leverage Visa’s digital payments products and TranServ’s fin-tech capabilities to promote digital payment infrastructure. Micromax users will be able to use mobile-based push payments using mVisa, and make ecommerce payments on merchant and social media applications, as well as interpersonal payments to personal contacts.The company also says that it is working on a future product where customers can do contactless payments through NFC on their smartphones.

Vikas added that 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 payment experiences for customers. 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 across categories like hospitality, travel, healthcare, entertainment, ecommerce, money transfers, and more.

Last week, Micromax co-founder Rahul Sharma said that Micromax will now focus more on building its services ecosystem. It expects will contribute the most to the company’s revenue by 2020. The company has introduced a suite of services called ‘Around’ in its Yu brand of phones and is now looking to incorporate the same in most of its devices in the next three months. It expects to sell 50 Mn devices in the current financial year.

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