Visa, Micromax, an Indian consumer electronics company, and digital payments firm Transerv have joined forces to introduce mVisa payment service for all Udio mobile app users across the country.
Supported by RBL Bank, the payment solution has been launched through Visa Developer Platform, an open platform that provides developers at merchants, financial institutions and technology firms with access to Visa's payment services and capabilities to create new digital commerce experiences.
With this payment service, mVisa users can make cashless transaction, pay bills and send money to friends and family members.
To make cashless purchase, Visa debit, credit or prepaid cardholders need to link their cards to mVisa application and make purchases by scanning an mVisa Quick Response (QR) code at retail stores.
mVisa, which can be pre-embedded into different types of smartphones, will be made available to Micromax smartphone users through the native Udio app within their handsets.
Visa India and South Asia group country manager TR Ramachandran said: "With the launch of Visa Developer Platform, clients and partners now have access to some of Visa's most popular payment capabilities.
“This enables them to create commerce experiences with Visa technology integrated, enabling greater security, scale and convenience. We are excited to work with Micromax and TranServ to bring mVisa to more consumers across the country and believe this will lead to increased adoption of digital payments."
TranServ co-founder and CEO Anish Williams said: "The launch of mVisa on Udio mobile app delivers a world class payment experience to the large customer base of Micromax users.
"Owing to the simplicity of the process, we are confident of it becoming very popular with the cash-centric segments in the society, thus being a significant catalyst towards our mission of a less cash economy."
Micromax co-founder Vikas Jain said: "The integration of mVisa on Udio is a step further towards simplifying mobile payments. Our collaboration will further leverage the Micromax mobile devices and our presence across a vast consumer base.
"We believe that single platform integration with multiple disparate services will broaden access and the mobile phone comes at the centre stage of this functionality. Micromax consumers will experience a seamless and delightful digital wallet experience."