Adding another 200,000 retail touch points by the end of the year
The new mobile wallet service for the Indian consumer market, dubbed Money on Mobile (MoM), is available to everyone, banked and unbanked, and operates across all mobile operator networks. Through the service, users can load cash onto their mobile device (Rs 20 is the minimum) from a MoM retail touch point and then use the virtual money to pay prepaid mobile and DTH recharge, mobile and utility bills and buy goods as travel and cinema tickets. Payments can be made via SMS for those with basic phones whilst there is also a mobile app for those with smartphones. The service has been available to businesses since 2010 and MMPL claims to now have a network of 82,000 retailer touch points across 300 cities in India. The company aims to add another 200,000 retail touch points to its network by the end of the year.
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