IT major Tech Mahindra has launched first of its kind ‘Tap N Pay’ contactless digital payment wallet MoboMoney for the Indian masses.
MoboMoney has been billed as India’s first commercial NFC ecosystem rollout that would allow consumers to convert cash into e-cash for making payments.
Key facts
MoboMoney is a prepaid wallet issued in the form of a Near Field Communication (NFC) contactless tag that could be used to ‘Tap N Pay’ for goods and services.
This facility would be available on a network of NFC enabled merchant point of sale (POS) machines.
Customers without an NFC-enabled phone also can enjoy this facility to purchase goods.
The e-money loaded into the customer’s digital wallets can then be used make payments, recharges, make bill payments as well as pay online.
MoboMoney has been billed as India’s first commercial NFC ecosystem rollout that would allow consumers to convert cash into e-cash for making payments.
Key facts
MoboMoney is a prepaid wallet issued in the form of a Near Field Communication (NFC) contactless tag that could be used to ‘Tap N Pay’ for goods and services.
This facility would be available on a network of NFC enabled merchant point of sale (POS) machines.
Customers without an NFC-enabled phone also can enjoy this facility to purchase goods.
The e-money loaded into the customer’s digital wallets can then be used make payments, recharges, make bill payments as well as pay online.
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