Things are hotting up in the Mobile Payments space in India. Lot of activity happening with companies like mCheck, Paymate, Obopay, Atom leading the race ..There are several others trying to get a pie from this booming area ..While each works on a different business model, the sucess of the company in a longer run would be based on the following factors:
- One that leverages the critical mass ..( at the bottom of the pyramid )
- Ease of use
- Distribution
- Compliance ( RBI, security etc ).
Insurance Companies Offer Mobile Payment Options To Customers: "atom PayBuzz, from atom Technologies Limited, a Financial Technologies Group venture, has tied up with ICICI Lombard General Insurance and Reliance General insurance for accepting payments over a simple phone call originating from any landline or mobile phone. Customers will now be able to pay their insurance premium amongst other things over a simple phone call by using their credit cards. atom Paybuzz which has arrangements with insurance establishments across India, is a secure mechanism for payments based on touch-tone IVR technology."
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