Telecom Lead Asia: Aircel and ICICI Bank launched their mobile banking service running on Visa’s Mobile Managed Service.
On sign-up, Aircel’s Mobile Money customers will be able to use the Mobile Money service instantly on any mobile phone even without a data connection service.
The service will be first available in Tamil Nadu to specifically cater for the needs of the large migrant working population from Tirunelveli now living and working in Chennai.
Aircel and ICICI Bank said they will launch the services in other parts of the state and rest of the country during 2013.
Geoff King, head of Mobile Banking, Aircel, said Aircel is bringing its mobile network and attention and care in serving millions of customers to the partnership.
Rajiv Sabharwal, executive director, ICICI Bank, said launch of Mobile Money is a part of its strategy to leverage technology to provide convenient and easily accessible banking services across the country.
Uttam Nayak, Visa’s Group Country Manager for South Asia, claims that its new mobile managed service removes the time, complexities and cost of setting up mobile payment services.
Visa is trying to increase the reach of electronic payments beyond tier 1 and tier 2 cities by driving affordable access and low cost acceptance.
