As part of its plans to build m-commerce infrastructure across the country, Mumbai-based mobile payment service provider My Mobile Payments Ltd (MMPL), is eyeing a network of 10,000 retail outlets for B2B services in Gujarat in next 2-3 months. The company intends to have tie-ups with retail outlets in the state for provision of m-wallet services.
The company also launched 'Money on Mobile' (MoM), an m-Wallet service that facilitates payment for a wide range of goods and services using a mobile phone in Gujarat.
MMPL will offer pre-paid and electronic payment instruments to mobile phone subscribers for purchasing goods and or services and merchants to accept payments on their mobile phones without using a POS terminal.
"We are currently building our network of authorised retail merchants or outlets. In Gujarat we intend to tie-up with at least 10,000 retail outlets for offering MoM services. Nationally, we are aiming at 25,000 such outlets. Once such an infrastructure is created, we intend to launch B2C mobile payment services across verticals like restaurants and organised retail stores," said Shashank Joshi, managing director of MMPL.
While the company is already witnessing a daily traffic of Rs 30 lakhs nationally, MMPL expects to see a business volume of Rs 7 crores in the first three months in Gujarat since launch of MoM. MoM offers mobile phone users the flexibility and convenience to top up their talk time, DTH account, buy air, rail or movie tickets using their mobile phone.
The service operates independent of the customer's mobile operator or bank, and hence any mobile subscriber can avail of its services. "We provide merchants the ability to accept payments via a mobile environment reducing payment time at a lower cost per transaction. MoM is a convenient, flexible and secure one-point mobile payment service for wide range of goods and services," said Joshi.
In phase one, all MoM transactions will be done through authorised retail merchants.
"We have already tied up with merchants pan-India to enable us to provide our services to the masses. In the future we plan to tap into several markets and to reach out to the end customers who can create their own mobile wallet and use it for all identified /registered services. We are happy to launch our services in this market where the projected mobile penetration in India is expected to be 900 million with the mobile tele-density above 80 per cent by 2013," Joshi added.
