Indian banks team with Visa to take on mobile commerce

wearable technology visa paywave mobile payments power suit

Mobile commerce to get a boost as banks partner up with Visa Several Indian banks have begun to test a mobile payment service that has been developed by Visa. Axis Bank, HDFC Bank, ICICI Bank, and State Bank of India have all agreed to test Visa’s mVisa service, which will allow their customers to make in-store transactions with their mobile devices. They will also be able to use the service to pay bills and send and receive money with their smartphones. The service will be available to approximately 20,000 merchants…

Read More

QR codes will complete HDFC Bank mobile payment transactions

qr codes payments

The bank in India is going to start using quick response codes as well as NFC technology. HDFC Bank, a financial institution in India that currently accounts for nearly one quarter of all electronic spending transactions now has intentions to use QR codes and NFC technology in order to be able to revolutionize the mobile payments sector in the country. These types of contactless scans will allow smartphones to be safely used as mobile wallets for in-store purchases. This introduction of QR codes and near field communication technology represents the…

Read More