My Mobile Payments to issue mobile wallets
Posted on: 09:41 AM IST Nov 17, 2011
Mumbai: City-based mobile payment service provider My Mobile Payments has received the RBI go-ahead to launch financial services on mobile phones. 'Money on Mobile' an electronic prepaid payment instrument for mobile phone is set to launch its services next month.
My Mobile MD Shashank Joshi said, "By December, consumers can load their mobile phones with prepaid cash and use this virtual money to purchase goods and services at retail outlets. Retailers will act as a loading point for this."
The company has already tied up with over 36,000 retailers and has a presence in over 200 cities. It offers mobile phone users the flexibility and convenience to top up their talk time, DTH account, buy air, bus or movie tickets anytime, anywhere using the mobile platform.