Indian smartphone maker Micromax has lofty aims for a new mobile wallet, including millions of users and potential international launches.
The firm developed the wallet, which is called Udio, with credit card giant Visa and TranServ, a local payments firm.
“We have about 30 million smartphone users who access apps, of which we expect 50 per cent would be using the wallet by year end,” Micromax co-founder Vikas Jain told Economic Times. It will launch before the end of April.
“We’re also exploring plans of rolling it out in countries like Russia within this year,” he added.
Users will be able to make payments in a number of scenarios, said the company’s announcement. “Using the proposed payment solutions, Micromax users will be able to use mobile-based push payments using mVisa and make e-commerce payments on merchant and social media applications as well as interpersonal payments to personal contacts,” it said.
With the mVisa app, users scan QR codes in stores or restaurants with the scanner built into the app to pay for goods and meals. It can also pay for other services such as home deliveries and taxis.
In the future, the companies will also look at launching mobile contactless payments in physical locations through NFC (near-field communications), it said.