Indian consumer electronics firm, Micromax has recently joined forces with mobile payment startup TranServ to build a nation mobile payment solution. Micromax will integrate a mobile wallet into its smartphones by January 2016.
The smartphone maker will begin introducing new models with pre-integrated wallets over the next three to four months and will enable existing smartphones through software updates, which will take the reach of the payment service to about 25 million connected mobile phones.
Customers will be able to top-up the wallet online or with cash at Micromax stores. Most of the company's devices will get a software update which would add the digital wallet. The service will be optional for users and the wallet will be pre-installed on future Micromax devices.
Commenting on the development, Vikas Jain, Co-Founder, Micromax said “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.”
“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,” he added.
With India's first smartphone based native payments solution, Micromax intends to reach 10% of India's billion-strong population in the next two years.
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