The only challenge in order to migrate these customers into account holders is to complete the 'know your customer' process. The process is lengthy and complex as it requires a personal interaction and collection of identity and address proves.
Recently, Freecharge has come up with a MasterCard powered virtual card named 'FreeCharge Go.' This is basically a one-stop wallet for any online transaction a customer wants to make from any part of the country.
MoboMoney is a prepaid wallet issued in the form of an NFC (Near-Field Communication) Contactless Tag, which can be used to pay on a network of NFC enabled Merchant POS or through an NFC enabled mobile phone.
Digital payment firm, TranServ, is all set to launch a new model of mobile wallet in partnership with mVisa and RuPay which will make payments acceptable across all physical stores and eCommerce platforms.
With an intention to increase traction for its food category during the festive season, mobile commerce platform, Paytm is coming up with an Online Food Festival starting from 9th to 11th October, 2015.