eINDIA 2015

eINDIA 2015 – Amarkant Jai, Vice-President-Consumer Connect, My Mobile Payments Limited

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Money on mobile

Amrakant-JaiThere is a requirement of cashless transactions. We have two wallets — one is B2B, called Money On Mobile, and the other is B2C, called MoM wallet. In a short span of time, we have had two cashless campuses that is accessing money through swipe cards or through mobile phone. The mobile phone cuts across and is a big leveler today. Tele-density in India is increasing at a fast pace. The smart city and financial inclusion is about how mobile wallets can play a special role. We have done enough work in bill payments and utility payments, and education, transport, healthcare and insurance. My take for a smart city is that for a smart city, you yourself need to be smart first, be equipped with smart tools of technology. So, you need to be upgraded first. A change management has to be done. It has to be an orbit-shifting technology.

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