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March 12, 2015updated 04 Apr 2017 4:03pm

First Global Data rolls out mobile payments service in India

First Global Data, a financial services technology company operating in the payments sector, has rolled out a one stop mobile payment service in India.

By Verdict Staff

First Global Data, a financial services technology company operating in the payments sector, has rolled out a one stop mobile payment service in India.

Dubbed as PayQwik, the service allows customers to make purchases, pay bills, top up mobile phones and purchase coupons at up to 60,000 merchants and 12 telecom companies across India.

The company said that it has integrated its network with over 50 banks, cash card, debit and credit card networks, net banking, and other mobile wallets through which customers can load money into their PayQwik mobile wallet.

With this mobile payment service, customers can also send money to any mobile number across India, and to generate and redeem loyalty points.

Additionally, PayQwik will allow customers to transfer money from their bank account to their PayQwik mobile wallet and vice versa. It will be available for download in the Google Play Store and also for iOS devices in the near future.

According to First Global, during the initial phase launch of the PayQwik mobile wallet in India, over 500 products from one online shopping store in India have been included into the PayQwik mobile wallet.

First Global’s India subsidiary and PayQwik CEO Pankaj Kumar said: "According to many industry analysts, the Indian e-commerce market will reach $6 billion in 2015, a 70 percent increase over 2014 with revenue of $3.5 billion. India has now become the world’s second largest mobile market after China and will reach 165 million in 2015."

First Global Data, chairman, president and CEO Andre Itwaru said: "Our platform enables us to diversify our service offerings, and to grow and scale as the Indian marketplace evolves."

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