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Business & Strategy

Created by : Sujatha srivastava, Associate/Senior Associate, AT Kearney  | 09 17 2010 06:10:28 +0000
Industry : Telecom/ISPFunctional Area : Business Models(Strategy & Execution)
Activity:  688 views;  last activity : 10 04 2010 11:53:39 +0000

Bharti Airtel customers will soon be able to make virtual payments at retail outlets and restaurants using their cell phones.

The country’s largest telco by both revenues and customers has got the nod from the Reserve Bank of India (RBI) to collect a maximum of `5,000 from customers, which can be converted to virtual money stored on mobile phones, and can be used at outlets that have a tie-up with Airtel.

All leading mobile phone companies are also slated to get the ‘semi-closed wallet’ licence over the next couple of months.

Will this Mobile currency offering be a success??

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Top Argument

Don't  you think infact we forget our wallet or purse at times, but not our mobile phones, Mobile phones have indeed become an integral part of our life, we can't do anything without our mobile phones, and with Mobile currency upto 5000 Rs is a good option and people can easily make payments through their mobile phones, and I believe a day will come where credit cards will be replaced with this offering.  So, this is a good option that  Airtel are coming with, eventually even other teleco's will follow the same...

By Sujatha srivastava, Associate/Senior Associate, AT Kearney  09 17 2010 06:10:28 +0000

Will be very useful to people not having debit or credit cards.

By s.baalu , Consultant, XYZ LTD  | 10 04 2010 11:53:39 +0000
See, This rule is very much famous in US, the only thing is that Fraud, But when UID that is Unique ID number will come like in SSN in US, then it is perfectly safe.,
By deepak jaggi, Automation test Engineer QTP, SUNGARD  | 09 19 2010 16:10:03 +0000

We need not worry about the methodology how it is to be done. It will be taken care of, by the Networking guys. Whatever method we follow for Credit card, will also be followed for mobile.

For example: (1).To read a card , we normally handover the card to the handset at the out-let. Similar, hand-set machine will perform it for mobile phone.

(2). As we have net payment software to pay through pay pal etc through credit card, there is a software available to pay it through mobile phone. e.g ACCUMULATE SOFTWARE etc.

(3) At the vending machine similar arrangements are available where data can be transferred through blue tooth/IR/wifi etc.

It is left to the service provider to cater for these kind of networking enabling them to use mobile phone.

By KALIYAMOORTHY , PHSEM, CTCI Corporation  | 09 19 2010 13:38:42 +0000

shopping through mobile was something unheard of in the past and now this seems a reality with just too many additional issues to be handled before it tastes some degree of success. Security being one of the greatest concerns is a vast subject by itself when integrated with this innovative solution would certainly earn laurels from existing and potential customers...but thats only a big 'IF'...if the security infrastucture is in place, shopping not just 5000, but >5000 as well would be another feather in Airtel's cap....and believe me, if this is a success, it would heat up the competition across sectors....because it could render other commoditites/ services do not need to go to an ATM, credit cards need not be subscribed to (who knows, virtual credit card through mobile may just be a step away after virtual cash), going to a bank to draw cash...hahaha(laugh your way through all these, as you may possibly carry the whole bank in your mobile) all in all, this innovative solution could open up new service opportunities while rendering others useless...but time can tell how...

By Saibal Ray, SQA, confidential  | 09 18 2010 05:22:21 +0000
Online transactions are getting murkier these days. Fraudsters have percolated very deep into the system that we are only geared upto do post-mortem! BEWARE TO SAFEGUARD YOUR HARD-EARNED MONEY! If your means of earning otherwise, shop even 10,000 via mobile phones, who stops!
By S. Muralidharan, Executive Director, Knowledge Foundation  | 09 18 2010 04:18:57 +0000
It is very good idea and eco-friendly too.. I mean we can save more trees by using this.. It will be definitely successful in future..
By Nohar Singh Dhruv, Jr. Engg, Chhatisgarh State Electrical Board  | 09 17 2010 15:10:06 +0000

Its great to getting use of these technology and make life much easier and secured transaction system. I think the banks will run behind telco to offer credit system instead of direct to clients.

Now the main question is how to the platform will be developed like whether prepaid or postpaid.

The major functioning will be utilised by middle segment as to pay the petrol bill when their Driver / Shofer go alone for petrol filling in the tank. The transaction will happen while sitting at home and fueling the tank.

Good luck to junior feild working employees. The measure is against you.

By Jyoti CHETANI, Freelancer, Equity Research/Analytics  | 09 17 2010 13:53:05 +0000

It will increase business transaction depending on how they visualized to pay. I mean ," Is it pre-paid / post paid?. If it is post-paid what interest rate they charge?. Pre-paid may not welcome as much customers as post paid with lesser interest rate for the duration of pay ( interest holiday).

By KALIYAMOORTHY , PHSEM, CTCI Corporation  | 09 17 2010 11:58:56 +0000

I agree because the mobile is very popular in fact more popular than a crdit card

By Sreenivasan , engineering, indian railways  | 09 17 2010 06:39:30 +0000

I don't know whether it will be successful or not as, paying cash through mobile is something not tested in Indian environment at all and how the model will work still there is no clarity at the moment and the what if one looses his mobile or it gets stolen....still a complete picture is not there, RBI needs to have manythings in place before they can thing of mobile banking or mobile payment options, and if some company is providing mobile currency they need to be associated with a bank, but in other countries that is not the case.

By Anjaneyula Reddy, Construction-Heavy, DLF  | 09 17 2010 14:20:10 +0000
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