Journalism of Courage
Obopay,a mobile payment technology provider,has partnered with YES Bank and Nokia for the Commercial Pilot Launch of mobile banking services in Pune. This service is called Mobile Money Services by YES Bank,said a press note here.
Obopay provides the technology platform which enables mobile money transaction services.
The commercial pilot was launched in Pune in late February. Obopay is also responsible for the entire back-end work and has been able to enroll a significant number of Punes population,as well as sign up a substantial number of merchants and agents since then,the note said.
This service will enable consumers to transfer money to other individuals,pay utility bills as well as recharge prepaid SIM cards (top-ups),by using their mobile devices. Subsequently,consumers will also be able to pay merchants for goods and services through their mobile devices. This is a first-of-its-kind service providing customers the ability to initiate mobile payments through multiple channels i.e. SMS,IVR,WAP,JAVA and FIRE.
This initiative will provide consumers with greater Anytime Anywhere convenience and will be a significant milestone on the path of financial inclusion as stated by the Reserve Bank of India.
The mobile banking services will soon be made available to a wider consumer base by leveraging off Nokias vast retail network,the note said.
