Sunday, July 27, 2008

WHAT’S the secret to a happy married life? It’s mobile payment

WHAT'S the secret

to a happy married life?

It's mobile payment

if you believe the latest Airtel advertisements.

Lets take a couple of incidents.

Scene 1:

Madhavan and Vidya Balan

are travelling in a train.Vidya Balan's gut feeling

says that there's something that they have forgotten.

Madhavan is sure everything is ok,

until he hears his wife mumbling a few items,

one of which is payment to be made for something.

He keeps his cool,

and before their train enters and exits a tunnel,

he successfully makes the payment via

his mobile phone.

Happy ending.

Scene 2:

Madhavan is in a taxi

when his wife calls him to check

if he has sent money to her dad.

Obviously he has forgotten.

No worries.

He fidgets with his phone for

a few seconds and vyears.

It's expected that almost 60 percent

of the Indian population will be mobile,

and that's a tremendous reach.

No wonder many companies are actively

looking at mobile phones as a medium to pay cash.

In terms of products,

sending money on the phone is years.

It's expected that almost 60 percent

of the Indian population will be mobile,

and that's a tremendous reach.

No wonder

many companies are actively looking

at mobile phones as a medium to pay cash.

In terms of products,

sending money on the phone is a killer application.

Yesterday,

mCheck,

a mobile payment website,

has tied up with RedBus,

an online ticket booking website for Buses.

All you need to do is just send

an SMS -redbus- to 543219 to select

and pay for your bus tickets.

No fancy java application required.

Just plain simple SMS.

Pretty soon,

you could even pay for your coffee via SMS

and it will be a reality faster than you think.

A few weeks ago,

LIC, Corporation Bank and PayMate

have tied up to enable customers to pay

their Insurance premiums over SMS.

If a highly regulated market like Insurance

has moved online,

its just a matter of time when regular commerce

dives in head first.Mobile payment,

in addition to happy marriages,

will make our lives a lot easier.



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With love from
Anand.R.Joshi
Have a nice day
http://geniusanandjoshi.blogspot.com


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