Bangalore: Leading telecom service provider Bharati
Airtel has selected IT bellwether Infosys Ltd to manage its
'mobile wallet' service across the country, enabling cashless
payments and money transfers.
"Infosys will be our technology partner to offer the mobile wallet
service, enabling cashless payments and money transfers across the
country to our diverse customer segments," Bharti chief executive
Sanjay Kapoor said in a statement Monday.
As part of the multi-year deal, both the partners will jointly
create a business model for m-commerce and offer customers a
secure environment for cashless transactions using Infosys'
WalletEdge mobile commerce platform.
"As core platform, Infosys' Finacle Digital Commerce will provide
the ecosystem for card issuers, merchants, financial and retail
institutions to offer customers a range of payment options for
their transactions," Kapoor said.
The platform will also enable 'Airtel money' customers to pay
bills, recharge accounts, shop at over 7,000 merchant outlets,
transact online through multiple channels, including mobile
phones, interactive voice response, ATMs (automatic teller
machines) and point-of-sale.
As the country's first-of-its-kind mobile wallet service, Airtel
money will empower customers to transfer money instantly and play
a key role in achieving financial inclusion.
"Infosys was selected for its technical capabilities and
credentials, especially in the financial sector. We will offer a
compelling proposition to our customers to accept Airtel money as
a way of life," Kapoor added.
Noting that the game-changing mobile commerce platform will
empower millions of Airtel customers to make cashless
transactions, Infosys chief financial executive V. Balakrishnan
said the novel service would unleash new market opportunities for
Bharti in the digital commerce space.
"As a scalable platform, WalletEdge will be able to support
millions of transactions annually in a secure environment.
Delivered through a private cloud, it creates a shared services
framework to allow members of the ecosystem to process payment
instructions seamlessly and cost efficiently," Balakrishnan added.