City-based firm launches m-wallet

Looking to tap the Indian market for electronic financial transactions, Mieux Infracon Ltd, an Ahmedabad-based e-commerce company, has launched cell-enabled financial transaction service 'CELLMONEY.

According to Anil Singh, director of Mieux Infracon, being a mobile financial service enabling financial management and payments from/ to a mobile phone, CELLMONEY virtually converts a cell phone into a wallet.

Unlike ATMs, it also offers flexibility to make or receive payment in any figure without the limitations of denominations or daily limit and it can be used conveniently either through SMS, GPRS, Internet or Java enabled application provided complementary by CELLMONEY, anytime and anywhere.

 

It is also a safe & secure mode, as it is backed by secure password. Moreover, all the transactions recorded and can be traced easily.

"As a special feature, the CELLMONEY comes with money back guarantee, and the user, on discontinuation of the service, can encash the remaining balance by submitting unused CELLMONEY at the nearest retail outlet,” informed Singh. Adding further, he mentioned that the service is useful not only for the subscriber, but also for the country, as indirectly, it helps in promoting GDP growth.

“During the period from 2004 and 2009, electronic payments have added 50 basis points to global GDP, adding $1.1 trillion to global wealth," he said. Set up in 2010 by a first generation entrepreneur, Mieux Infracon Ltd had earlier launched CELLBIZ - a recharge portal. Mieux is the fourth largest TPT recharge company with daily transaction of over Rs 60 lakh.