Our Digital Payments coverage is brought you by Chillr: India’s 1st multi-Bank instant mobile payment app enabling fund transfers to anyone in your phonebook. IT services company Tech Mahindra has launched a mobile wallet called MoboMoney, which uses a near field communication (NFC) tag to pay merchants who have NFC enabled POS’ and other NFC enabled mobile phones, reports ET. Users can use MoboMoney to pay at offline as well as online retailers, while those who do not have NFC enabled on their phones only need to tap the tag on the merchant POS to pay for their goods. The wallet is available as an Android app. Users can also load money into the wallet through credit and debit cards along with net banking and use that money to make over the counter payments, utility bills, and mobile and DTH recharges. The ET report cites that the company plans to focus on the top 6 metros in the country over the next year and have 1 million merchants who will accept MoboMoney as a method of payment by 2020. As of now, the company supports mobile recharges from Airtel, Vodafone, Idea, Aircel, Reliance, Tata Indicom, BSNL and MTNL, and DTH recharges of Videocon D2H, Tata Sky, Sun Direct and Airtel DTH. It currently accepts offline payments in Delhi NCR with merchants who operate cyber cafes, grocery stores, pan shops, medicinal stores, college canteens and stationery stores among others. The solution also works at certain parking spots where users can tap their tags…
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