Payment solutions provider Visa has alleged that its mobile payments service has been restrained by Indian telcos, reports The Economic Times. While the company hasn't mentioned any specific telecom operator, Visa has alleged that telcos have selectively offered USSD (Unstructured Supplementary Service Data) service to a few banks while they have refused the same service to Visa since its mobile payments service competes with Bharti Airtel's Airtel Money and Vodafone's m-Paisa service, as indicated by the report. Visa-Monitise JV In May 2010, Visa had setup a joint venture with the UK based mobile payments solutions provider Monitise for the Indian market called Movida. Through this venture, the companies were providing a technology platform for financial institutions and mobile network operators in India, to offer services such as banking, bill payments, mass transit ticketing, mobile top-up and others to consumers. In February 2012, Movida had inked an…
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