One97 Platform Enables Mobile Bill Payments, Purchases

Published July 16, 2009, 1:00 a.m. EDT

|

Updated July 16, 2009, 12:00 a.m. EDT

1 Min Read

IMGCAP(1)]

Processing Content

A new mobile-commerce platform from One97 Communications Pvt. Ltd. will enable users to reload prepaid card accounts, pay bills and purchase some products, such as movie tickets, using their mobile devices, according to the New Delhi-based company. The platform, PayTM, operates using SMS text messaging so users do not need to download applications. It is compatible with most mobile devices. Users can pay utility bills, insurance premiums and broadband-communication bills using the platform. One97 has signed agreements with multiple merchants, including florist chain Ferns N Petals, online retailer HomeShop18, movie theaters PVR Cinemas and Adlabs, the Delhi-Noida-Delhi Toll Plaza, and insurance provider Max New York Life. Platform users can make purchases at the merchants with which One97 has agreements using their mobile devices. The company did not respond to requests for comment by CardLine Global deadline.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Monetary policy

Fed's Miran downplays inflation risks, rethinks rate cuts

Federal Reserve Gov. Stephen Miran Thursday said that the Iran war and tariffs will not have long-term impacts on inflation, but did say he is reconsidering his rate cut outlook for the year.

By Maria Volkova
Reporter

2h ago
Regulation and compliance

OCC moves to block Illinois ban on swipe fees on taxes, tips

The Office of the Comptroller of the Currency sent an interim final rule to the Office of Management and Budget that would preempt a controversial Illinois state law banning the collection of interchange fees on taxes and tips interchange.

By Ebrima Santos Sanneh
Reporter

3h ago
Mortgage rates

Mortgage rates hit 4-week low on Iran conflict news

This week's Freddie Mac mortgage rate survey shows rates at the lowest in four weeks, but homebuyers are giving mixed signals even with improved purchase power.

By Brad Finkelstein
Originations Editor

3h ago
Earnings

Citizens delivers solid first quarter, aided by NII uptick

The Providence, Rhode Island-based bank's net income rose 39% during the first quarter. Higher net interest income and continued growth in its still-fledgling private bank were factors.

By Allissa Kline
Reporter

3h ago
Earnings

Brisk loan growth, tight rein on expenses propel U.S. Bancorp

The Minneapolis company boosted revenue, kept operating expenses in check, and beat analysts' first-quarter earnings expectations.

By John Reosti
Reporter

5h ago
Earnings

BNY posts record revenue, gets boost from market volatility

America's oldest bank enjoyed a 33% increase in its bottom line, as economic turbulence fueled business and the company's efforts to improve efficiency and boost cross-selling paid dividends.

By Catherine Leffert
Reporter

6h ago

Load More