Mobile Payment Roundup: Paymate-US Market; Obopay-Six Banks; HDFC-MWallet
– Paymate, a mobile payment startup funded by Sherpalo Ventures and Kliener Perkins Caufield & Byers, is planning to enter the North American market, looking at international money transfers, reports Red Herring. It isn’t the only mobile payment startup looking beyond India: MChek, funded by DFJ, had tied up with operators in Sri Lanka earlier this year.
– HDFC Bank is set to introduce a mobile wallets and remittances soon reports Trading Markets and Sify. The bank is considering both debit card and credit card services on mobile phones for transactions, Rahul N Bhagat, EVP of retail banking said on the sidelines of the Banktech Congress in Mumbai.
– Obopay India has reportedly tied up with six private banks to launch a peer-to-peer (p2P) and peer-to-merchant payment systems. Aditya Menon, Executive Director for Obopay India told ET that the company has completed pilot projects and the banks have received central bank approvals, though he didn’t specify which banks. Any guesses? Some details at their site here.
Good service, atleast concept.
In a country with 54% literacy, def: one could read and write his/her name in any Indian language. 3% population reads one English daily. And in that functionally literate (those who could receive, read, reply SMS) – in this segment willingness and need for online transfer.
Handset support, trust in online banking.
Mr. Paymate/Obopay & co – Please gear up to seed the market for next 2 years.
User navigation, call flow, ease, vernacular text, handset support…
Funding and technolgy is not a challenge… creating market would be the challenge.
Best of Luck
CASHPAL IS THE SOLUTION AND HAS THE MARKET AND TECHNOLOGY
CASHPAL IS THE SOLUTION AND HAS THE MARKET AND TECHNOLOGY to serve full financial service to all banked and unbanked rural population.
cashpal is design and develp with specification and Regulation of USA Federal Gobernment.
Direct Deposit to any beneficiary bank account world wide, Money transfer and Payments.
Debit Mobile to all rural population.