mRUPEE ties up with Infibeam to launch online retail eCommerce

Infibeam-logoNew Delhi, India, June 15, 2014: MMP Mobi Wallet Payment Systems Limited (MMPL), a 100% subsidiary of Tata Teleservices Limited, has announced launch of its dual payment gateway based online retail eCommerce website www.shop.mrupee.in powered by Infibeam, a leading ecommerce company in India that offers retail platform www.infibeam.com and e-commerce technology platform www.buildabazaar.com for SME’s & enterprise clients.

This partnership brings to its customers and patrons great brands at incredible prices with a simple and intuitive browsing keeping in mind the safety and convenience features for making payments online. This is the first time in the industry that a dual payment gateway has been introduced that will give the customer 2 choices for making payment from a mRUPEE wallet and/or netbanking, 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 fantastic deals, offers and discounts that are offered to online user community.

COO of MMPL Pradeep Kumar Sampath said, “Our primary objective is to drive the evolution of the payments landscape in India. This is a revolutionary thing from a wallet service provider providing end-to-end ecommerce transactions and we hope more customers gain access to the online shopping experience either as entrepreneurs or as customers as well as target the offline customers through a retailer assisted model. 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. We are glad to join hands with Infibeam and believe that its vast portfolio of product assortments and powerful logistics network will help us reinforce our commitment of offering a superior experience to both online and offline customers.”

Chief Operating Officer and Co-founder of Infibeam Sachin Oswal said, “We are excited to be able to offer our customers the opportunity to have hassle free shopping experiences as enabling payments through mRUPEE will be safer and faster than almost any other payment method as it is simple, secured and convenient. We truly believe that our partnership with MMPL will enable us to live upto the evolving needs and expectations and offer engaging retail experiences to online and offline customers.”

This service aims at targeting both end of spectrum users viz online and offline customers. India has more than 160 million Internet users, of which 86 million accesses Internet using their mobile devices. And it is predicted that India will have 330 to 370 million internet users by 2015. Given the huge gap, there still exists a huge opportunity for those untapped semi-urban populate who either don’t have a computer at home or can’t access internet. To simplify lives and reach out to these segmented users, mRUPEE has also launched a Retailer Assisted eCommerce Channel which will enable mRUPEE retailers to sell eCommerce services to walk-in customers and offer the great discounts and offers to the offline customers.

Infibeam will handle MMPL retail back-end operations and will also offer over millions of branded products assortments across 50+ product categories at incredible prices. www.shop.mrupee.in will allow end-to-end customer experience from user to final delivery of the products with safety & convenience of paying via mRUPEE wallet along with any credit-debit card or netbanking for transactions. Infibeam is one of the leading online retailers in India, offering over millions of branded products across 50+ categories reaching out to 6 million unique monthly visitors. Infibeam has its own logistics network in 11 Indian cities and 5 warehouses catering to 20,000 pin codes each.

With this launch, mRUPEE has taken yet another step towards revolutionizing the e-commerce landscape in India and this unique proposition of a retailer assisted dual payment gateway is a first in the mobile wallets category. The e-commerce channel, shop.mrupe.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 ecommerce services and offer the benefits to a broad category of customers. 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. mRUPEE offers the convenience of efficient domestic remittance services available as self-initiated or retailer assisted.

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