Bharati Airtel turn on Infosys for mobile wallet services
Bharti Airtel, leading telecommunications company has chosen Infosys, as its partner for “airtel mone”. Under this partnership, Infosys WalletEdge – the mobile commerce platform will enable the ubiquitous mobile wallet service to support cashless payments & settlement needs of customers, Infosys said in a filing to the BSE.
FinacleTM Digital Commerce is at the core of this platform. The mobile commerce offering serves as an alternative to cash/ card payments online, after the user loads cash on to his account. The platform will enable “airtel money” customers to pay bills, recharge accounts, shop at over 7000+ merchant outlets, transact online through multiple channels including mobile phones, Interactive Voice Response, ATMs and Point of Sale. The account can be recharged either through retail outlets- similar to recharging a prepaid account, or using net banking facilities from the user’s bank account.
Infosys WalletEdgeTM is also a platform capable of supporting millions of transactions annually in a secure environment. Delivered through a private Cloud, it creates a comprehensive shared services framework that allows members of the ecosystem to process payment instructions seamlessly and cost efficiently.
Global payments company MasterCard announced the launch of its open-loop Worldwide Mobile Money Partnership programme, in partnership with Comviva, a mobile financial solution provider. The partnership aims to help financially under-served consumers globally access mainstream financial services as also make purchases, transfer funds and pay bills via their mobile phones. “We are confident that together we will offer a compelling proposition for our customers for them to accept airtel money as a way of life,” Bharti airtel CEO India and South Asia Sanjay Kapoor said. For Airtel Money Power Accounts, Airtel has established merchant partnerships with over 1,800 brands, across the country, including state electricity boards like BSES, Reliance Energy, Indraprastha Gas, telecom (BSNL/MTNL) and insurance (LIC) and mutual funds, organized retailers (e.g. DT Cinemas, Fun Cinemas, Megamart, Univercell, Apollo Pharmacy) and also local chemists and grocery stores.
The Infosys platform is a scalable platform capable of supporting millions of transactions annually in a secure environment. Delivered through a private cloud, it creates a shared services framework that allows members of the ecosystem to process payment instructions seamlessly and cost efficiently. Mr V. Balakrishnan Member of the Board, Infosys, said, “The game-changing mobile commerce platform will also unleash new market opportunities for Bharti Airtel in the digital commerce space.”