My Mobile Payments Ltd (MMPL) has announced the launch of ‘Money-on-Mobile’ (MOM), an M-Wallet service which permits a mobile phone subscriber to purchase a wide range of goods and services using the mobile phone for the Indian market.
Shashank Joshi, MD, Money-on-Mobile said, “We are happy to launch our services in one of the fastest growing mobile markets. In a country like India where mobile phones are more widespread than the financial systems, mobile payment is the next big alternative payment method. MOM does all paperless transactions and it is in line with RBI’s vision of making 70% of the financial transactions paperless by end of 2012. MOM is committed to ensuring consumers the ability to make safe, convenient and flexible payments thus empowering them to – ‘Stop at nothing. Pay for anything’.”