Micromax has just announced its partnership with TranServ, a mobile payment system that will allow users of Micromax smartphone access financial and social transactions targeting at mobile-first users in India. Social transactions include sending money, requesting money, sending gifts and etc, all these will be directly integrated into the smartphone and can be accessed via the contact list.
The partnership will include the company in rolling out a series of payment solutions such as microloans and other social transactions. Micromax is aiming to bring a pervasive payments layer to the payment solutions, a platform that goes beyond Micromax smartphones. TranServ is also partnering with banks to expand the payment solutions even further. It is aiming to provide Micromax users a Visa credit card with a partner bank allowing ubiquitous payments across online as well as offline merchant establishments.
Vikas Jain, Co-founder, Micromax Informatics said:
At Micromax, we have always believed in bringing more value to our consumers by integrating the best in class services on our devices and this is where the future is. Our vision is to enable users to enjoy a seamless and delightful experience across categories like Hospitality, Travel, Healthcare, Entertainment, e-commerce or Payments where we populate the gaps to map their digital journey to their fulfilled world. The growth in mobile payments has a lot to do with the ease of payment and tight integration with popular services. 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.
Anish Williams, Co-founder & CEO, TranServ, said:
With India emerging as the largest mobile phone user base in the world, the future of payments in India is heavily inclined towards smartphones. 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.