mChek mobile payments solution in Gujarat

With a vision to create cashless transactions, mChek India Payment Systems has tied up with Airtel for its patent-pending, on-demand mobile payments solution 'mChek/Payment' across the country.

The facility is already commercially available in the Delhi and the National Capital Region and will be launched in Gujarat and other circles eventually.

mChek, which is into mobile security and payments innovation, has tied up with Visa, Airtel, ICICI Bank and State Bank of India to allow users to link an existing phone and their existing Visa credit card issued by any Indian bank to their mobile phone.

Airtel is the first telecom operator to offer this service with the 'mChek - Anytime Anywhere Bill Payment'.

"We have launched our inter-operable on-demand mobile payments solution mChek in collaboration with Visa, Airtel, ICICI and SBI. Although the service will be available for Airtel users pan-India, it has been launched in Delhi and NCR and will soon be launched in Gujarat and other circles officially," said Sanjay Swamy, Chief Executive Officer of mChek.

Explaining the usage of the facility, Swamy said Airtel customers will be required to send mChek to 121, after which they would be asked to enter four digits of their choice as mChek pin.

Customers would then have to enter the 16-digit credit card number (Visa) along with the card expiry date and card verification value (CVV) number. mChek has launched a similar service in Sri Lanka in collaboration with Dialog Telekom, a leading telecom operator and NDB Bank, one of the largest private sector bank in Sri Lanka.

"mChek/Payment has been designed to be compatible with existing banking industry processes for issuance, transaction processing and settlement of credit and debit cards. Available as an on-demand service, banks and telecom operators can rapidly enter the exciting space of mobile banking and payments, eliminating the need for significant capex investment. The greater vision through this service to go for cashless transactions in future, and with mobile phone being a personal device it is easier to reach there now," said Swamy.

The company would be soon talking to other telecom operators and banks as well and try to make mobile phones as secured and convenient as credit or debit cards for such transactions, added Swamy.