Net1 Mobile Solutions (N1MS), a business unit of Net 1 UEPS Technologies (Net1), has launched a mobile payment solution, Shmart!Pay Mobile Card, in India.
In collaboration with TranServ, Shmart!Pay Mobile Card uses N1MS’ Mobile Virtual Card (MVC) technology that offers a completely secure yet simple way to pay online by generating a one-time use virtual Visa prepaid card on a mobile handset.
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A consumer has to download the ‘Shmart!Pay’ App, register online by completing an account opening form and fund their MVC Prepaid Card account.
Users will then be able to generate virtual Visa prepaid cards offline without access to a web or mobile network, and at any time on their mobile device, and present it at any online merchant who accepts Visa.
Philip Belamant, managing director of N1MS, said: "N1MS is pleased to introduce our MVC technology in India after having successfully rolled it out in the United States, South Africa and Spain.
"We have a strong partner in TranServ, and together we can change the landscape for how consumers in this rapidly developing market can securely pay for e-commerce transactions."
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