Bharti Airtel partners with Infosys for mobile wallet service
Airtel to deploy mobile commerce platform from Infosys to support cashless payments and settlements needs of diverse customer segments.
Telecom service provider Bharti Airtel selected Infosys for its mobile wallet services.
Under this partnership Airtel will deploy WalletEdge, the mobile commerce platform from Infosys, to support cashless payments and settlements needs of diverse customer segments.
“An offering like this needs to be built on an extremely robust and secure technology platform, hence Infosys was a natural choice given their strong technical capabilities and credentials, especially in the financial sector,” said Sanjay Kapoor, CEO, India and South Asia, Bharti Airtel.
Finacle Digital Commerce will be the core of this platform that will facilitate the creation of a unique ecosystem of card issuers, merchants, financial and retail institutions to offer customers a wide spectrum of payment options for their transactions.
Customers can pay bills, recharge accounts, shop at over 7000 plus merchant outlets, transact online through multiple channels including mobile phones, Interactive Voice Response, ATMs and Point of Sale, on this platform.
Delivered through a private Cloud, it creates a comprehensive shared services framework that allows members of the ecosystem to process payment instructions seamlessly and cost efficiently, Infosys said.
V. Balakrishnan Member of the Board, Infosys said, “The game-changing mobile commerce platform, from Infosys, will empower millions of ‘airtel money’ customers to make cashless payments and settlements. It will also unleash new market opportunities for Bharti Airtel in the digital commerce space.”
In the last few days there have been several announcements by global payment companies, banks and telecom providers to offer mobile payment services. All of these players want to capture a share of the growing Indian mobile payments market.
HDFC Bank signed an agreement with Movida, a mobile payments joint venture backed by Visa and Monitise, to introduce a first of its kind mobile payment service in India. The service allows HDFC Bank customers to pay bills, top up prepaid airtime and buy tickets from their mobile phone and is designed to operate across all mobile networks using any Visa or non-Visa branded payment account.
MasterCard launched its open-loop Worldwide Mobile Money Partnership programme, in partnership with Comviva to help financially under-served consumers globally access mainstream financial services,make purchases, transfer funds and pay bills though mobile phones.
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