‘MoM works ag­nos­tic of the op­er­a­tor and the bank’

Voice&Data - - NEWS&VIEWS - MD, My Mo­bile Pay­ments Akanksha Singh

For how long has My Mo­bile Pay­ments been op­er­at­ing in In­dia? Who are your part­ners?

MMPL has been oper­a­tional for the last one year ser­vic­ing re­tail­ers (B2B). MMPL now has over 36,000 re­tail­ers in more than 200 cities in In­dia. With the RBI per­mis­sion in place B2C will be launched in De­cem­ber.

How does MOM work for the consumer?

MOM is es­sen­tially a pre­paid mo­bile wal­let. A consumer can load his M Wal­let with the de­sired amount. He can spend the money for ser­vices that MOM has made avail­able that in­cludes mo­bile recharge, movie tick­et­ing, DTH recharge etc. The consumer needs to reg­is­ter with MMPL ei­ther online or can walk in to a re­tail out­let and make the reg­is­tra­tion. They will then re­ceive a wel­come mes­sage. Once this is done, they can load their mo­bile for a par­tic­u­lar amount and the go-ahead and make a pay­ment for a wide ar­ray of ser­vices by send­ing an SMS.

How are you dif­fer­ent from the ex­ist­ing play­ers in the mar­ket?

One of the most im­por­tant dif­fer­ences is that the ex­ist­ing play­ers tar­get the banked cus­tomer, whereas our so­lu­tion caters to un­banked In­dian con­sumers. One needs to have ei­ther a debit or a credit card to reg­is­ter with them and make a mo­bile pay­ment. Other­wise, one needs to be a sub­scriber to their mo­bile op­er­a­tor to help them fa­cil­i­tate pay­ments through the mo­bile phone. In the case of MMPL, we tie up with lo­cal re­tail­ers and hence are able to reach ev­ery banked and un­banked consumer with a mo­bile phone pan-in­dia and help them pay for ser­vices us­ing their mo­bile phone. All the consumer needs to do, is to visit a re­tail out­let or ki­rana store, pay in cash and load their mo­bile phone with a Money-on-mo­bile voucher.

How is Money on Mo­bile (MOM) bet­ter com­pared to the other semi closed wal­let sys­tems al­ready launched by op­er­a­tors and hand­set ven­dors in the In­dian mar­ket?

MOM has de­vel­oped a tech­nol­ogy that en­ables the consumer to do trans­ac­tions over a SMS. No smart­phone is re­quired. MOM also works ag­nos­tic of the op­er­a­tor and the bank. Hence ev­ery­body can be­come a sub­scriber of MOM.

Are there any other new so­lu­tions in the pipe­line for In­dian con­sumers?

Up­com­ing projects in pipe­line are so­lu­tions and plat­forms are cre­ated for shop­ping at or­ga­nized re­tail out­lets, rail­way tick­et­ing , Cable TV pay­ments, govern­ment pay­ments—taxes etc, bank­ing- Busi­ness Correspond­ent un­der RBI’S fi­nan­cial in­clu­sion Per­sonto-per­son money trans­fer.


Shashank M Joshi

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