Reliance Capital Asset Management launches mobile-based payment system

Friday 10 August 2012 00:26 CET | News

Reliance Capital Asset Management (RCAM), a unit of Indian financial services provider Reliance Capital, has launched a mobile-based service for mutual fund investment in partnership with UK-based financial services provider HSBC.

RCAM is set to provide the Interbank Mobile Payment Service (IMPS) platform to investors for making investments in mutual funds. Investors are required to register themselves with their respective banks for mobile banking services, get mobile money identifier and mobile PIN from the banks, download software for mobile banking and link their mobile numbers to their bank accounts.

IMPS is a payments platform that allows customers to use mobile technology as a channel for accessing their bank accounts and initiating inter-bank fund transactions.

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Keywords: Reliance Capital Asset Management, HSBC, IMPS
Categories: Payments & Commerce | Mobile Payments
Countries: World
This article is part of category

Payments & Commerce