Visa to launch new mobile payment service in Bengaluru
Global payment technology Visa will soon launch a mobile payment service in India from September. Users can make payments through their smartphone with the mVisa payment platform.
The service will first enabled at the tech hub Bengaluru on pilot basis through four banks namely Axis, HDFC, ICICI, SBI and will be extended to other banks subsequently.
The new cashless and card less system will help consumer to buy goods, pay bills and transfer money with ease.
To avail the service, Visa customers have to download the mVisa form into their smartphones and link their Visa debt, credit or prepaid account to the application.
The users have to download and fill the mVisa form and link their debit, credit or prepaid account. After activation users can enjoy the full-fledged benefits of it.
Users can pay online for the retail purchases by transferring funds to the store's or its owner's account through mVisa.
The service is available to 20,000 merchants across Bengaluru who are notified through SMS that payment is done.
Payments through smart phone, table may touch $3.3 trillion by 2018 worldwide.