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December 20, 2013updated 04 Apr 2017 4:09pm

Tata Domoco expands mobile payments service mRupee

Indian telco Tata Docomo has announced the expansion of their mobile payments service mRupee to 26 cities by the end of the financial year.

By Verdict Staff

Indian telco Tata Docomo has announced the expansion of their mobile payments service mRupee to 26 cities by the end of the financial year.

The service, to be rolled out though through subsidiary MMP Mobi Wallet Payment Systems Limited (MMPL), will not only be marketed to individual consumers but also to businesses, aiming to aid small business expansion by supporting alternative payment.

"A mobile-based digital cash economy can lead to economic growth and boost financial inclusion and accessibility especially in terms of remittances or payment services" said Pradeep Kumar Sampath, COO of MMPL.

Currently available in 11 cities mRupee markets itself as an "m-wallet" and a safe alternative to cash and cards.

Available online and as a smartphone application, mRupee it allows customers to make money transfers, pay utility bills and shop at retail outlets and online via their mobile phone.

mRupee currently has over 130,000 customers and is growing at around 25% every month, according to Tata Docomo.

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