Micromax joins hands with TranServ to redefine mobile payments in India

NEW DELHI: Indian smartphone maker Micromax has launched industry’s first smartphone based native payments solution in a strategic partnership with mobile payments company TranServ.

Under the partnership, the companies will be rolling out a series of payment solutions specifically designed to meet the varied demands of the mobile-first Indian consumer.

The move will see the creation of an indigenous digital payment infrastructure leveraging Micromax’s unparalleled presence and partner ecosystem in the Indian market and TranServ’s leading payment solutions.

“This will be India’s first smartphone based native payments solution whereby Micromax users will be able to conduct financial and social transactions such as sending or requesting money, splitting bills, sending gifts to friends and making payments through native phone integrations, such as contacts in the device address book,” the company claimed.

“And 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. We will continue to invest resources, partnerships, time, effort and money to ensure our customers get what they want and the whole of the ecosystem shifts to meet the requirement of the consumers,” siad Vikas Jain, Co-founder, Micromax Informatics.

By partnering with a payments innovator such as TranServ, Micromax is providing an all pervasive payments layer to the services ecosystem further ensuring that the users have a platform which is available to them even beyond Micromax devices.

TranServ has also partnered with banks to further expand the financial services being offered. There is definite plan to provide Micromax consumers with a Visa card powered by a partner bank that will allow users to experience ubiquitous payments across online as well as offline merchant establishments.

“TranServ has been championing the cause of reshaping the payments industry and our partnership with Micromax would allow us to collaborate with a leading player who shares our vision of creating a seamless and secure payments ecosystem and enjoin our efforts to help India achieve the status of a cashless economy,” said Anish Williams, Co-founder & CEO, TranServ.

The partnership will see a roll out of unique digital financial solutions such as micro-loans & other personal financial services. With the number of mobile wallet users in the country already exceeding the credit card users, the association between TranServ and Micromax marks the beginning of the first consolidated steps towards the foundation of a holistic digital payments ecosystem.

The two companies have also built a large offline network of retail points providing customers an option to top-up their wallets using cash ensuring that customers across the country including interior India experience frictionless digital payments, world class convenience, highest levels of security and rich rewards.