Telecom service provider Videocon Telecom plans to foray into e-commerce and mobile banking businesses, even as the company said it does need additional spectrum licences for expansion,
Telecom service provider Videocon Telecom plans to foray into e-commerce and mobile banking businesses, even as the company said it does need additional spectrum licences for expansion, says a PTI report.
"We have chalked out our new roadmap to expand footprint in telecom related, non-licensed spectrum dependent new business lines in B2B (business to business) and B2C (business to consumer) space," Videocon Telecom Director and CEO Arvind Bali told PTI in Barcelona.
The company has a pan-India license for Internet services, while it has also got licensed spectrum in seven service areas to provide mobile services. It is not participating in the ongoing spectrum auction, which on the first day itself saw bids worth Rs. 60,000 crores. Videocon Telecom also plans to venture into mobile banking, recharge aggregation for mobile and D2H service, along with its foray into e-commerce business.
"In our annual business plan for year 2015-16, we have factored into revenue from these new business streams. There is a huge potential in the mobile wallet and e-commerce space. We are really impressed with the way player like Paytm has performed in the space...," Bali said. When asked if Videocon is interested in buying stake in Paytm, he declined to comment on the same.
Speaking on the sidelines of the World Mobile Congress, Bali said that under a new business venture, Videocon Telecom has already started providing services including bulk messaging solutions, virtual mobile number solution, virtual PBX, audio-video conferencing and fibre to the home.
The business lines will include Videocon's foray in to security solutions, e-surveillance and Android and iOS (Apple) platform based applications, content and games, he said.
"We have lined up discussions with leading solution providers from across the world to understand the value addition they can bring to us, and we would be signing some agreements with a few," Bali said without disclosing name of probable partners.
The company is soon going to start a 'world SIM' service for international travellers as part of its new expansion plan, which will initially come in prepaid format, Bali said.
Bali said that the telecom regulator Trai's recent move to remove call connection charges made from landline has will help the company's new business strategy and give a boost to its plan to expand fixed-line telecom business.
"We plan to go aggressive on our tariffs to revive the slowly-fading fixed line business and pass on the benefits to the customers. Our reason for foraying into new business lines is not related to removal of fixed termination charge. We have been working on the opportunity for quite some time now, we are only about to go big on it now," he said.
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