Top News

Tech Mahindra launches digital wallet MoboMoney

  • Tech
    Mahindra has launched “India’s
    first NFC-based digital payment ecosystem”, MoboMoney, an application aimed
    at simplifying and enhancing payments by ‘Tap n Pay’, the
    Indo-Asian News Service reported.
  •  
  • Tech
    Mahindra’s MoboMoney is a prepaid wallet issued in the form of an NFC

    • Tech
      Mahindra has launched “India’s
      first NFC-based digital payment ecosystem”, MoboMoney, an application aimed
      at simplifying and enhancing payments by ‘Tap n Pay’, the
      Indo-Asian News Service reported.
    •  
    • Tech
      Mahindra’s MoboMoney is a prepaid wallet issued in the form of an NFC
      (Near-Field Communication) tag that frees the user from the hassle of carrying
      cash. The NFC technology allows radio communication between two enabled devices,
      and the tag is a small sticker type chip that works on the NFC technology. This
      tag is linked to the MoboMoney account, the report said.
    •  
    • “In
      our endeavour towards a less-cash environment, we are taking the lead to setup
      an ecosystem, wherein digital payments can be accepted irrespective of form
      factors or service providers in an inter-operable and device-agnostic
      manner,” Vivek Chandok, head of consumer businesses at Tech Mahindra said
      in a statement.
    •  
    • MoboMoney
      allows consumers to load their online wallet by paying cash at its 1000-plus
      retail network, helping convert the cash into e-cash, the company said.
    •  
    • The
      money loaded into the customers’ digital wallets can then be used to “Tap n
      Pay” for over-the-counter payments, recharges, make bill payments, as well
      as pay online – converting what were earlier payments done in cash, into
      digital payments, it said.
    •  
    • “If
      the user wishes, he/she can link a bank account to the MoboMoney wallet, and
      retrieve the unspent amount from the wallet into the linked bank account,”
      Tech Mahindra added.
    •  

     

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close