Bharti Launches Mobile Wallet
Bharti Tele-Ventures has tied-up with ICICI Bank and VISA, to launch the country’s first "mobile wallet". The new service called "mChq" will enable Airtel subscribers and ICICI Bank Visa cardholders to pay for their purchases through their mobile phones.
With "mChq", Airtel subscribers in Mumbai and Delhi can purchase goods for as low as Rs 50. Once the product is bought, the retailer will send an SMS mentioning the amount to the customer. The customer will enter his/her personalized PIN number and reply via SMS , acknowledging the amount to be paid. The transaction is sealed with both parties getting a confirmatory SMS.
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