Wednesday 13 May 2015

MMPL to aid Flipkart in CoD service

MUMBAI: Digital wallet provider My Mobile Payments (MMPL), which is backed by private equity investor Calpian, has tied up with Flipkart to help the e-commerce giant overcome problems associated with cash-on-delivery (CoD). 

The tie-up will enable customers without access to electronic payment either through banking or payment cards to load their wallets in one of the 2.36 lakh shops that top up wallets against cash.

Funds in the mobile wallet — Money on Mobile (MoM) — can be used to generate an electronic voucher through which customers can make purchases from the e-commerce site.
According to Shashank Joshi, MD, MoM, close to 60% of pin codes where Flipkart currently delivers, the CoD option is not available. "These potential customers could only watch as those with access to payments received their purchases. Besides enabling purchases, the tie-up also allows MoM's customers to gift the vouchers to anyone through a simple SMS, which provides the voucher and PIN number. MMPL is one of the applicants with the Reserve Bank of India to set up a payments bank in the country. 

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