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| RCom, atom technologies sign strategic mCommerce agreement |
| Announcement / Corporate Nov 09, 2009, 16:05 IST |
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Reliance Communications (RCOM) has entered into a strategic tie-up with atom technologies, the leading m-commerce solutions provider from the Financial Technologies India Limited group.
With this partnership RCOM will now be able to offer a fast, secure, inter-operable and the most convenient platform to conclude payment transactions using Reliance Mobile. atom will offer through RCOM, multiple banks (Indian and Foreign) as well as merchants on a common platform, thereby allowing its subscribers to make payments across the entire merchant base. Reliance subscribers will now be able to purchase insurance services, DTH recharges, movie tickets, books & periodicals, consumer goods, holiday packages as well as bus & train tickets using their Reliance Mobile connection, these services will also be available on R-world for all GSM customers. Currently atom technologies have over 100 merchants registered for mobile commerce transactions.
This is part of RCOM’s major thrust to enable new revenue streams from m-Commerce. Reliance Communications is designing this service to support Guest users as well as Registered Users to successfully conclude payment transactions using Reliance Mobile connections. The benefit of registration will enable the user for two click payment transactions access. The transactions are secure and PIN protected. atom presently has merchant acquiring relationship with ICICI, HDFC, Citi and Axis Bank.
Commenting on the agreement, Mr. Anil Pande, Head – Product, Mobile Data and Content services, Reliance Communications said, “Our agreement with atom technologies will set the ground for RCOM to make an aggressive pitch in the Indian m-Commerce market. We are positively aggressive on the m-Commerce opportunity & are developing a series of m-Commerce applications as part of this m-Commerce thrust. We will leverage our agreement with atom technologies to drive m-Commerce transactions across both, the GSM and CDMA networks.”
Dewang Neralla, Director, atom technologies adds, “Our m-commerce technology has extremely been leveraged by more than 100 merchants to open up a new vista of payment collection for their increasing revenue. We are pleased to integrate the merchants on a common m-commerce platform to be offered by Reliance Communication and powered by atom’s cutting edge technologies. We are sure this partnership will be mutually beneficial and would definitely help Reliance Communication achieving the goal of building up a strong m-commerce portfolio, which complements their VAS strategy .”
While m-Commerce is in its nascent stages, it is slated to boom over the next few years with growing sophistication and lower prices of mobile handsets. Currently, users of m-Commerce perform a wide variety of transactions via mobile from paying for utility bill & movie tickets to shopping & holidays. While the uptake of mobile payments is still gathering pace, services that are more accessible and easier to use are finding favor. RCOM tie-up with atom Technologies is expected to drive nearly 30% of the m-Commerce traffic volume across its GSM and CDMA networks.
About atom technologies
atom technologies is a digital, retail initiative of the Financial Technologies Group, a group that has pioneered creation of digital marketplaces and technology solutions for the financial markets. atom was formed in 2006 to focus on harnessing the digital transaction ecosystem for payments with a special focus on the ever-increasing mobile ecosystem. As a mobile payments service provider, atom, through innovative use of technology in the mobile transactions ecosystem, has created multiple “patent pending” products & services for mobile payments, mobile banking for the un-banked, IVR based payments & mobile based service distribution framework. Today, its services have seen more than 1000 crore of transactions going through its environment with client list spanning the best of the associates in the industry.
About Reliance Communications
Reliance Communications Limited founded by the late Shri Dhirubhai H Ambani (1932-2002) is the flagship company of the Reliance Anil Dhirubhai Ambani Group. The Reliance Anil Dhirubhai Ambani Group currently has a net worth in excess of Rs. 64,000 crore (US$ 13.6 billion), cash flows of Rs. 13,000 crore (US$ 2.8 billion), net profit of Rs. 8,400 crore (US$ 1.8 billion).
Reliance Communications is India's foremost and truly integrated telecommunications service provider. The Company, with a customer base of 92 million including over 2.5 million individual overseas retail customers, ranks among the Top 5 Telecom companies in the world by number of customers in a single country. Reliance Communications corporate clientele includes 2,100 Indian and multinational corporations, and over 800 global, regional and domestic carriers.
Reliance Communications has established a pan-India, next generation, integrated (wireless and wireline), convergent (voice, data and video) digital network that is capable of supporting best-of-class services spanning the entire communications value chain, covering over 24,000 towns and 600,000 villages. Reliance Communications owns and operates the world's largest next generation IP enabled connectivity infrastructure, comprising over 190,000 kilometers of fibre optic cable systems in India, USA, Europe, Middle East and the Asia Pacific region.
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