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PayMate, StanChart in Deal for Payments via Phone
Techtree News Staff, Mar 17, 2009 1250 hrs ISTNow pay your bills over a simple IVR call
Standard Chartered Bank has tied up with mobile commerce major PayMate to offer simple mobile phone-based payment services to existing Standard Chartered customers, adding almost 2.5 lakh people to its user base.
Post the tie-up, Standard Chartered has become the first bank in India to follow guidelines issued by the Reserve Bank of India (RBI) for mobile payments and has received the approval for the same. This in turn has enabled mobile payment facility for all the account holders who have enabled mobile banking on their accounts. With the service, customers will be able to make payments and access a host of products and services.
Also Read: PayMate Intros Mobile Gift Vouchers
These include utility bill payments, mobile recharges, movie & flight tickets, online purchases & retail shopping at over 13,000 PayMate accredited merchants. The entire transaction happens over a simple IVR call and is secured with a 2-factor M-PIN authentication.
Mobile Payments facility is a step ahead of the existing mobile banking facilities, which almost all leading banks currently provide. With the recent proliferation of various mobile based payment services, the RBI had issued new guidelines for companies to follow for protecting consumer interests.
Post the tie-up, Standard Chartered has become the first bank in India to follow guidelines issued by the Reserve Bank of India (RBI) for mobile payments and has received the approval for the same. This in turn has enabled mobile payment facility for all the account holders who have enabled mobile banking on their accounts. With the service, customers will be able to make payments and access a host of products and services.
Also Read: PayMate Intros Mobile Gift Vouchers
These include utility bill payments, mobile recharges, movie & flight tickets, online purchases & retail shopping at over 13,000 PayMate accredited merchants. The entire transaction happens over a simple IVR call and is secured with a 2-factor M-PIN authentication.
Mobile Payments facility is a step ahead of the existing mobile banking facilities, which almost all leading banks currently provide. With the recent proliferation of various mobile based payment services, the RBI had issued new guidelines for companies to follow for protecting consumer interests.
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