wordpress blog stats
Connect with us

Hi, what are you looking for?

TranServ to roll out mobile wallet with mVisa and RuPay

chillr-adOur 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.
wallet

Digital payments company TranServ is launching a new mobile wallet and is tying up with mVisa and RuPay to make it acceptable across offline stores and ecommerce portals, reports Economic Times. Speaking to the publication, CEO Anish Williams said TransServ will be tying up with mVisa, RuPay and commercial banks to increase acceptance of the wallet rather than signing up with numerous individual merchants.

Visa launched its mVisa payments service in August this year which allows users to make cashless payments from their smartphones at physical stores, e-commerce websites and deliveries at home via QR codes. mVisa counts ICICI Bank as a client and the bank allowed users to make cashless payments from their smartphones at physical stores via the Pockets app using the mVisa service.

The Economic Times report also added that TranServ’s new wallet is still in beta testing and is called Shmart and will be relaunched later this month.

Interestingly, TranServ tied up with RBL Bank and launched Shmart in February where RBL Bank provided semi-closed loop prepaid account to store funds. Shmart offers a prepaid reloadable wallet for consumers and gives merchants API access to integrate wallets on their website.  At the time Shmart said it counts over 150 merchants, including PayUMoney, as its customers.

Appoints chief product and marketing officer: Earlier in November, TranServ appointed Asutosh Upadhyay as chief product and marketing officer. Prior to this, Upadhyay has worked at OnMobile, where he led the global digital marketing for over 4.5 years. Upadhyay worked as the head of business development at MindHive Labs for over 2 years and as a member of the engineering services at TVS Motor Company for about a year.

Advertisement. Scroll to continue reading.

The company also appointed Kaushik Mitra as SVP of product and Amit Kumar Gupta as head of engineering.

Funding: In July 2014, TranServ raised an undisclosed amount in Series B funding from Faering Capital’s India Evolving Fund and existing investor Nirvana Venture Advisors. The company had previously raised an undisclosed amount of investment from Nirvana Venture Advisors in July 2012.

Written By

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

Views

News

While the market reality of popular crypto-assets like Bitcoin may undergo little change, the same can't be said for stablecoins.

News

Bringing transactions related to crypto-assets within the tax net could make matters less fuzzy.

News

Loopholes in FEMA and the decentralised nature of crypto-assets point to a need for effective regulations.

News

The need of the hour is for lawmakers to understand the systems that are amplifying harmful content.

News

For drone delivery to become a reality, a permissive regulatory regime is a prerequisite.

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