Mahindra Comviva and First Data prep Indian mPOS rollout

Mahindra Comviva and First Data prep Indian mPOS rollout

India's Mahindra Comviva is partnering up with First Data to push its mPOS technology to the country's huge merchant community.

Mahindra Comviva's payPlus comprises an app and card reader that connects to smartphones via Bluetooth, and is equipped with a LCD display and PIN, enabling merchants to accept payments from both chip and mag-stripe cards. The system will also soon enable businesses to use location-based services to deliver promotional campaigns with offers and discounts to customers.

Srinivas Nidugondi, SVP, head, mobile financial solutions, Mahindra Comviva, says: "India has about 418 million credit/debit card holders as against a mere 1 million POS terminals; we expect a significant market share through our mPOS solution."

Nitish Asthana, GM, First Data Acquiring Services, adds: "With the combination of our trusted relationship with leading merchants across India, and the expertise of Mahindra Comviva, we are confident that our mPOS solution will help our merchant community reduce costs and enhance the consumer experience, which will help the merchants grow their businesses."

In March American Express invested in another Indian mPOS contender, Bangalore-based Ezetap.

Comments: (1)

Hitesh Thakkar
Hitesh Thakkar - SME - Fintech startups (APAC and Africa) - India 19 September, 2014, 09:09Be the first to give this comment the thumbs up 0 likes

Semi Urban and Rural locations which is the focus as per govt as well as banks to cover unbanked population and mPOS initiatives will sure bring more motivation for banking services using mobile banking and mobile payments.

Largest markets such as migrant workers sending payments to family, direct govt benefits payments, cross sales of Insurance and other financial products and services as well as retail e-commerce can leverage this merchant network.