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Fortumo to start carrier billing for cab rides & movie tickets; regulatory hurdles in India

Payments operator Fortumo said that it will be introducing carrier billing to pay for services such as cab rides, movie tickets, and payment of insurance premiums. To begin with, the company will be introducing this in middle eastern countries and the service is expected to launch early next year. Carrier billing is a payment mechanism where users can pay for goods and services by deducting the charge from their prepaid phones or charging it to their monthly phone bill. This is important in India where most mobile users don’t have credit cards while debit card usage is low. However, Sanjay Sinha, country head for Fortumo in India, said that the company will not be introducing this service to India due to lack of regulatory clarity. "There are regulatory constraints in this market so we won't be able to move that forward in…

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