India: Movida partners HDFC Bank for mobile payments services

Wednesday 22 February 2012 00:49 CET | News

Movida India, a mobile payments joint venture between Visa and UK-based mobile financial technology company Monitise, has entered an agreement with India-based financial institution HDFC Bank to provide the latter’s customers with mobile payments services.

Under the agreement, HDFC Bank customers are set to gain the ability to pay bills, top up prepaid airtime and buy tickets from their mobile phones. The new mobile payments service operates across all mobile networks using Visa as well as non-Visa branded payment accounts. After linking their HDFC Bank Visa or non-Visa payment card to their mobile phone number, cardholders can access the service via USSD over Movidas connection, select the payment service and then make the payment. A PIN number is set up on the phone to access the account information. Only the users bank-registered phone can be connected to the service.

Movida India uses mobile handsets for electronic payments and works with financial institutions and mobile service operators to provide services to consumers across India.

HDFC Bank was founded in 1995 and it provides financial products and services to its customers across India using distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.

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Keywords: Movida, HDFC Bank, mobile payments services
Categories: Payments & Commerce | Mobile Payments
Countries: World
This article is part of category

Payments & Commerce


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