A mobile payments venture by Bharti Airtel and Kotak Mahindra Bank has launched in 29 states across India. The two firms are planning to build a pan-India banking network that includes payments. According to the company, it will be able to offer customers an option of paying for goods or services with their smartphones using either debit cards or credit cards.
A mobile payments venture by Bharti Airtel and Kotak Mahindra Bank has launched in 29 states across India. The two firms are planning to build a pan-India banking network that includes payments. Last year, the Reserve Bank of India began giving licences to companies outside the financial system, and Bharti Airtel, with 250,000 retail stores in India, was the first company of its kind to receive a payments licence.