Tag: mobile payment systems

National Payments Corporation of India preparing to consolidate various payment methods

India may be looking to forgo cash in favor of mobile payments. The National Payments Corporation of India, which was established in 2008, has been tasked with consolidating the country’s vast number of retail payment systems. The organization has produced a unified payment interface API, which can be used by banks, merchants, and other institutional entities to support mobile transactions. The API is meant to make it easier for businesses to connect with consumers that have become reliant on mobile devices.

Rapid adoption of smartphones places more focus on mobile payments

The National Payments Corporation of India has taken note of the rapid adoption of smartphones throughout the country. These devices have become favored among consumers for more than just communication. Many people now use smartphones to shop both online and offline, as well as find various sources of entertainment and connect with friends and family throughout the world. Mobile payments have become quite popular due to the adoption of mobile technology.

Unified infrastructure could make mobile transactions more convenient and attractive to both consumers and businesses alike

The new payment system that the National Payments Corporation of India is launching is meant to provide a unified infrastructure for organizations interested in mobile payments. Using the system, businesses will be able to receive money from a mobile device, using a single identifier, such as a phone number or virtual payment address. The system will not rely on bank account information, though users will have to actually have money to send if they want to make use of the new infrastructure.

Success of the new payment system could bring more attention to the mobile payments space

The new system is expected to make mobile payments in India more convenient than they already are. The organization is preparing to launch the new system as early as the middle of this year. Its success could add further momentum to the growth of India’s mobile payments sector, which has been receiving strong support from retailers throughout the country.

Spindle announces partnership with Integrated Payments

Spindle, a leading provider of mobile payment services, has announced that it has teamed with Integrated Payments, a company that specializes in point of sale and mobile commerce technologies for merchants. The two companies have signed an agreement that will combine Spindle’s mobile commerce platform with the technology developed by Integrated Payments. The two companies hope that the new venture will provide merchants throughout the U.S. with a more efficient way to accept mobile payments from consumers.

POS solutions growing in demand among merchants

Becoming more accommodating to mobile payments is quickly becoming a serious issue for the retail industry, as well as other businesses. More consumers are taking to their mobile devices to make payments for goods and services. Reaching out to these consumers through e-commerce gateways and mobile websites has, thus far, been an effective means to offer service and procure business. The demand for being able to make mobile payments at actual stores is growing, however, and merchants are facing a rising need to address this demand with point of sale systems.

Spindle and Integrated Payments to leverage strengths of each other to reach markets

Through this new partnership, Spindle will be able to take advantage of the powerful relationships Integrated Payments has formed with merchants and vendors throughout the U.S. Integrated Payments will also benefit from the partnership as it will be able to expand its mobile commerce portfolio by offering merchants new services that are focused on mobile commerce. Together, the two companies may be able to establish a foothold with merchants in the U.S. and compete with larger companies, like Google, that have been investing heavily in mobile commerce.

Mobile commerce gaining serious attention

Mobile commerce is moving beyond the fringes of the retail industry. More companies are seeing the potential benefits of becoming more accommodating to mobile consumers and have begun taking mobile commerce more seriously. Spindle and Integrated Payments are keen to position themselves to be ready to serve a wider range of merchants when more businesses choose to adopt mobile commerce systems as a way to meet the needs of consumers.