Mobile wallet approaching readiness in India

Micromax smartphone manufacturer subsidiary, Yu Televentures, has announced its intentions.

Yu Televentures recently announced that it is coming close to reaching an agreement with TranServ, which will make it possible for the companies to jointly produce a mobile wallet that will be available on the latest Micromax smartphone, which will be called the Yutopia.

This agreement will be the first of its kind for the subsidiary of the India based smartphone manufacturer’s subsidiary.

A recent press release from Yu Televentures explained that it will be releasing its mobile wallet as a component of its Around Yu suite. Around You is a software suite that comes as a part of the original bundle that is already installed into the Yutopia smartphone. This ensures that the mobile payments app will be available to users who purchase the smartphone without requiring them to have to download it.

This could help to boost the use of the mobile wallet among the users of that model of the device.

Mobile Wallet Joint ProjectAccording to Micromax co-founder, Rahul Sharma, “All these services will be deeply integrated and stitched with one payments system.” The goal is to make it as convenient, seamless and simple for device owners to use as possible. This will allow them to use it as a natural part of their device use, instead of being an awkward or clunky add-on that requires them to take too much action in order to take advantage of what it has to offer.

A statement from Yu Televentures pointed out that both the mobile wallet app that is being developed, and the mobile payments system upon which it will stand will assist in driving other apps within the Around Yu suite. There are several within the suite that have the potential to work quite smoothly with the digital transactions, such as a food ordering application, a mobile travel app that provides price comparisons, as well as a price comparison retail app that allows users to find the best price for the products and services they’re seeking. By incorporating the wallet app, when the user finds what he or she wants, it will be easier to simply purchase it digitally.

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