Monitise and Visa’s joint venture in India
Movida expects to roll out a new mobile payments platform this
year.
Movida sealed a deal with India’s second
largest bank HDFC which initially enables a selected number of its
customers to make basic payments with their mobile phones.
Go deeper with GlobalData
The platform, which is open to all mobile
networks, allows HDFC bank registered users to make mobile bill
payments, buy movie tickets and mobile phone prepaid recharge.
What makes Movida’s platform specifically
first and new is its USSD mobile technology.
Movida’s president Naushad Contractor
explained Cards International that every single GSM phone including
low-end ones can use the service.
“There is no requirement to download anything.
No need for a one-time password. You don’t need a new SIM either”
Contractor told CI.
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By GlobalDataFrom a bank’s perspective Movida’s platform
does not require large IT projects or capital investment efforts,
said Contractor.
Asked whether the company is talking to other
banks Contractor said:
“Movida’s aim is to bring the service to every
Indian throughout the country and that means working with every
single bank in the market.”
HDFC’s a client base of 21 m.
