Tata Docomo to expand mRupee service

Mumbai, Dec 19 : Tata Docomo, the unified telecom brand of Tata Teleservices Ltd (TTL), through its wholly owned subsidiary MMP Mobi Wallet Payment Systems Limited (MMPL), announced that its flagship money remittance and payment service mRupee will be expanded to cover 26 cities by the end of this fiscal.

mRupee is a telecom network agnostic m-payment wallet that is rapidly transforming the way payments and remittances are carried over across India.

MMPL will not only serve B2C segment but will also empower B2B customers, businesses, traders, shop owners and enterprises by providing efficient payment/ cash management services.

TTL will also look to develop synergies with its group companies to offer differentiated services around this mobile money proposition.

The company also has plans to introduce bouquet of services around the mobile wallet.

With over 1700 retail outlets, mRupee is currently available across 11 key cities through its strategy tie-up with ICICI bank and serves as an easy alternative to cash or card payment.

mRupee offers the convenience of efficient domestic remittance services available as self-initiated or retailer assisted.

Consumers can walk into any MMP outlet and deposit cash and provide details of a payee to remit money.

In addition to enabling seamless money transfers, mRupee can also be used to pay utility bills, shop online, on mobile or at retail outlets and pay using a mobile device. mRupee will be available on Web, WAP, as a mobile application, USSD and via IVR as an operator agnostic service.

mRupee currently has over 1,30,000 customers and is expanding rapidly growing at nearly 25-30 percent every month.

"mRupee is aiding in creation of a mobile-based digital cash economy that is more efficient, transparent and inclusive," said Pradeep Kumar Sampath, COO of MMPL.

"The service is designed keeping in mind B2B as well as B2C customers and will not only cater to the urban youth/ executives but also the migrant population across the country for domestic remittances."

--IBNS (Posted on 19-12-2013)

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