American global payments technology solution firm Visa Inc. to test its pilot app based mobile payments service ‘mVisa’ in India,’mVisa app enables the users to transfer money and make micro payments for services through the mobile.Visa inc. chose India for its pilot app as Indians does the highest e-commerce transactions over mobile in world.This app will be provide service in September and has tied-up with about 20,000 merchants in Bengaluru and prime banks of India. Through this ‘mVisa’ app company aims to replace physical points of sales with mVisa. In India Visa has over 1.1 million physical points of sales.Recently Visa has provided near field communication payment service to iPhone.
About Visa Inc:
mVisa is a California based multinational financial service provider that provides the electronic funds transfers throughout the world. It facilitates electronic funds transfers through its credit.
Note:
Visa doesn’t issue cards & set rates and fees or extend credits for consumer it is done by the banks it only provides a service to access financial transactions.
New mobile payments service app mVisa in India
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