MUMBAI: At a time when e-commerce websites are trying to create exclusive spaces where only selective wallets can be used, digital payments firm TranServ is launching a new mobile wallet in collaboration with mVisa and RuPay to make it acceptable across all physical stores and ecommerce platforms.
“Instead of partnering with numerous merchants individually , I have partnered with Visa and RuPay and will be tying up with as many banks possible to create wider acceptance of my wallet,” said Anish Williams, CEO, TranServ. “The digital wallet space as a payments solution can only thrive once there is interoperability among wallets, for the ease of transactions of consumers.”
Williams said that the TranServ wallet which is in its beta stage and is called Shmart will be relaunched with a new name and with additional features by the end of December.
“The new app, in tie up with mVisa, would allow payments to be made at physical stores without a point-of-sales (POS) terminal through a QR (quick response) code which can be shown at the counter and also can be synced with a Visa card for payments at counters with POS terminals,” he said.
TranServ has tied up with RBL Bank to create a Visa card which is available across various retail out Rs 99. Once the unique card lets for number along with a pin number that is provided with the card is punched into the Shmart mobile app, the money in the m-wallet can be transacted through a point of sales terminal.