Tata Teleservices said it will be expanding its mobile wallet based payment service mRupee to 26 cities.
NEW DELHI: Tata Teleservices said it will be expanding its mobile wallet based paymentservice mRupee to 26 cities with over 4,000 retail outlets by the end of this fiscal.
The service, launched in January this year is currently available in 15 cities. It allows a mobile customer of any operator to transfer money, pay utility bills, book tickets among other things.
The service is provided by MMP Mobi Wallet Payment Systems (MMPL), a 100% subsidiary of Tata Teleservices.
"We are growing at a rate of 20%. Every month about 2.5 lakh transactions take place with an average value of Rs 3,800," MMPL chief operating officer Pradeep Kumar Sampath told PTI.
He said the service is operator and mobile agnostic, which means that a customer of any mobile operator, GSM or CDMA, can use it.
He said consumers can walk into any MMPL outlet and deposit cash to remit to a registered beneficiary.
"In addition, it can be used to pay utility bills, shop online, on mobile or at retail outlets and pay using any mobile device," he added.
Sampath said the company also has plans to introduce a bouquet of services around the mobile wallet and is in talks with various merchants.
"The service is designed keeping in mind end consumer as well as the enterprise community and will not only cater to the urban youth but also the migrant population across the country for domestic remittances," he added
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