Visa and Monitise to Introduce Mobile Payments Services in India

Movida, a mobile payments joint venture backed by Visa and Monitise, announced it has signed an agreement with HDFC Bank, India’s second-largest private bank, to introduce a new mobile payment service in India.

Naushad Contractor, Movida’s President and head of the Monitise and Visa joint venture in India, commented: “This is a service designed for Indians. As we rollout the service to other banks more Indians will be able to benefit from mobile payments. Wave goodbye to waiting in long queues or visiting post offices or payment machines to pay bills as you will now be able to do that right from your mobile phone. This service is going to drastically reduce the time & energy Indians waste every day waiting to pay bills.”