wordpress blog stats
Connect with us

Hi, what are you looking for?

Sam Pitroda’s wallet service company C-SAM acquired by MasterCard

C-Sam-mastercardMobile wallets and payment solutions company C-SAM has been acquired by MasterCard and the latter will now use the technology to speed up launch of its MasterPass wallet service internationally. The financial details of the deal were not disclosed.

C-SAM’s on-device application and back-end infrastructure will allow use of MasterPass both in-store and online across multiple communications technologies, including NFC, QR/barcodes and remote checkout.

Co-founded by Sam Pitroda and Mehul Desai, C-SAM has operations in USA (ISIS), Singapore (Starhub), Japan (DNP) and India. It provides solutions  in secure mobile transactions technology and offers a range of mobile phone based applications for financial as well as non-financial services. Its clients in India, include ICICI Bank, ING Vysya Bank, Jet Airways, Tata AIG an L&T, among others.

MasterCard had tied-up with it in 2012 to offer mobile wallet service PayPass in the Middle East and also made a minority investment in it.

Services offered by C-SAM: It has a mobile technology platform that allowed users to make payments using NFC, or by scanning a QR-Code. C-SAM also has provisions to make payments from a wallet stored in the cloud especially when using devices that don’t support NFC. It also created solutions for merchants such as point-of-sale terminals and NFC applets. Apart from payments at retail, the company also offers customised wallet solution for payments such as movie ticketing, value added services, receipts and even for use as an id proof. The C-SAM platform also supports customer-specific offers, loyalty incentives, banking, bill-pay options and non-financial secure transactions.

What does MasterPass do? MasterPass is a solution created by MasterCard that will let merchants accept payments from multiple wallet services. It is worth noting that MasterCard does not currently charge any fee for this service from merchants or customers. It also lets developers use MasterPass as a white-label solution and build on top of it with their own branding, which is similar to the service offered by C-SAM. You can see a list of companies using this service here.

Advertisement. Scroll to continue reading.

In-app payments

MasterCard also announced the launch of a MasterPass app that will allow payments to multiple merchants. In-app payments service will be available to in Q2 of this year; MasterPass is a browser-based service as of now. That said, the service has already been deployed at more than 30,000 merchants in Australia, Canada, Italy, the United Kingdom and the United States. It will be deployed in 14 more countries this year, but it’s not clear if India is part of the list.

Written By

I'm passionate about technology and gaming. You can follow me <a>@chupchap</a>

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.

News

Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.

News

This article addresses the legal and practical ambiguities in understanding the complex crypto ecosystem in India.

News

It is widely argued that the PDP Bill report seeks to discard the intermediary status of social media platforms but that may not be...

News

Looking at the definition of health data, it is difficult to verify whether health IDs are covered by the Bill.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ