New Mobile Payment Service Launched in India

by Mercator Advisory Group 0

Atom Technologies has launched a new mobile-payment service in India based on interbank transfers. Atom is a subsidiary of Financial Technologies, a publicly traded IT solution provider for the financial industry.

From The Times of India:

IMPS allows customers to use their mobile handsets as a channel for accessing their bank accounts and enables interbank fund transfers in a secured manner with immediate confirmation features.

It should be noted that the new payment service is mainly targeting merchants rather than general consumers, according to the company.

Elaborating on this move, Dewang Neralla, director and CEO, Atom Technologies, said, “IMPS payments makes it very simple for customers to start making payments and it will also enable our merchants to accept payments from such customers which hitherto was not possible earlier due to various reasons.”

IMPS’s key partners include Yes Bank, a full service commercial bank in India and the fourth largest private sector bank in the country.

Click here to read more from The Times of India.

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