My Mobile Payments Ltd (MMPL), A Mumbai based company is all set rollout its mobile wallet services “Money on Mobile“. It is a simple, easy to use mobile SMS or smart phone application that lets you to recharge your mobile; pay utility bills; top-up your DTH account; shop for any goods or services; buy travel related services such as – rail / air / bus / movie tickets and even handle banking transactions all from the comfort of your mobile phone
MMPL has already launched this service in eight telecom circles last month and now all set to launch this service in Punjab, Haryana, Himachal Pradesh, Uttar Pradesh, Uttarakhand and Rajasthan circles by end of November 2010 .
Money-on-Mobile can work across all mobile phones, from the most basic to the advance mobiles as it can be accessed from GPRS as well from SMS. To avail this services users have to register on the company website www.money-on-mobile.net
Services Offered by Money on Mobile:
Services Offered by Money on Mobile:
- Recharge your mobile phone
- Top up your DTH account
- Purchase rail / bus / air / movie tickets
- Buy goods and services at partner establishments and outlets
- Pay utility bills including electricity / gas / telephone
- Pay municipal and government taxes
Shshank Joshi, MD, MMPL, said: “We expect to get almost 30 per cent of the total business from here. In Chandigarh alone, we propose to have 1,000 retailers by March 2011. The company is all set to launch its operations pan-India by December.”
“We will be charging a 3 per cent commission, of which 2.4 per cent will be passed on to the retailer who sells this service to consumer. We will get only 0.3 per cent commission, while the remaining 0.3 per cent will be the distribution cost, by September 2011, we are looking at a sales of Rs 3,000 crore at a profit of Rs 30 crore.” he said.
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