In what is seen as industry’s first in the wallet category, MMP Mobi Wallet Payment Systems Ltd (MMPL), a 100% subsidiary of Tata Teleservices Ltd, on Thursday announced the launch of its dual payment gateway-based online retail e-commerce website, >www.shop.mrupee.in powered by Infibeam.

Infibeam is a leading Ahmedabad-based e-commerce company that offers retail platform >www.infibeam.com and e-commerce technology platform >www.buildabazaar.com for SMEs and enterprise clients.

This partnership brings to its customers and patrons major brands with a simple browsing keeping in mind the safety and convenience features for making payments online, an official said.

This is the first time in the industry that a dual payment gateway has been introduced to give the customer two choices for making payment from an mRUPEE wallet and/or net-banking, debit card and credit card. This service will be available to both B2C and B2B customers.

Another first in the industry is that a new retailer-assisted model has been introduced to facilitate those users who are not so technology or internet savvy. This would help the customers to benefit from offers and discounts available to online user community, Pradeep Kumar Sampath, COO of MMPL, said.

This is a “revolutionary thing” from a wallet service provider providing end-to-end ecommerce transactions. “We see a huge opportunity in empowering customers to shop online using a safe and secured payment gateway like mRUPEE where they don’t have to worry about sharing their debit or credit card details.”

Sachin Oswal, Chief Operating Officer and Co-founder, Infibeam, said payments through mRUPEE will be safer and faster than almost any other payment method.

This service aims at targeting both the ends of spectrum users, viz online and offline customers. India has more than 160 million Internet users, of which 86 million access internet using their mobile devices. And it is predicted that India will have 330 to 370 million internet users by 2015.

To reach out to these segmented users, mRUPEE has also launched a retailer-assisted e-commerce Channel which will enable mRUPEE retailers to sell e-commerce services to walk-in customers through discounts and offers to the offline customers.

Infibeam will handle MMPL retail back-end operations and offer over millions of branded products assortments across 50+ product categories. It is one of the leading online retailers in India, offering over millions of branded products across 50+ categories reaching out to 6 million monthly visitors.

With this launch, mRUPEE has taken yet another step towards revolutionising the e-commerce landscape in India. The e-commerce channel, >shop.mrupee.in will not only be targeting a broad range of customers comprising of youth, working executives, women etc. but will also allow retailers to sell e-commerce services. mRUPEE wallet will enable customers to shop via www.shop.mrupee.in and provide end-to-end retail experience from purchase to final delivery of the products to its customers.

MMPL had received the Reserve Bank of India’s approval in December 2011. mRUPEE is among the few services that transforms the customer’s mobile phone into a virtual wallet allowing the customer perform financial transactions with ease.

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