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RBL Bank, Mastercard launches mobile payment system in India.

Mastercard today launched Masterpass QR in India, a safe and secure Quick Response (QR) mobile payments solution. Masterpass QR enables mobile banking clients to securely pay for face-to-face purchases by using their smartphone or feature phone.

Shoppers can make fast, simple and secure digital payments at any place where Masterpass QR is accepted, which means that they no longer need to carry cash or their physical bank cards to make payments. Ratnakar Bank Limited (RBL Bank) is the first bank in India to integrate the Masterpass QR service into the OnGo digital wallet, its mobile platform powered in conjunction with India Transact Services.

James Anderson, Executive VP-Digital Payments and Solutions at Mastercard & Porush Singh, Division President - Mastercard, South Asia launching MasterPass QR
James Anderson, Executive VP-Digital Payments and Solutions at Mastercard & Porush Singh, Division President – Mastercard, South Asia launching MasterPass QR

The OnGo wallet will host a virtual prepaid Mastercard that customers can use for cashless transactions, including for paying taxi and auto rickshaw fares.

Masterpass QR’s low cost and easy-to-deploy technology is designed to ensure that even the smallest merchants can participate, whether they are in a major city or a remote area. This offering is a reiteration of Mastercard’s commitment to support the Government’s vision of a less-cash society, while working to ensure no one gets left behind in digital adoption.

About RBL Bank

RBL Bank ThetechgramRBL Bank Ltd is one of India’s fastest growing private sector banks in the last six years with an expanding presence, with 197 branches and 362 ATMs as of March 31, 2016 spread across 16 Indian states and union territories. The Bank has been recognised by the World Economic Forum as a ‘Global Growth Company’ (GCC) for 2014 and has also been awarded “India’s Best Bank (Growth) in the Mid-Sized Bank segment” for four consecutive years, 2012, 2013, 2014 and 2015 and  “Best Bank Overall (Small)” for 2015 by Business Today and KPMG.

 

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Mohit Verma

Mohit Verma is The Founder & Editor Of The Techgram, A Blogger Who is Growing Up Very Fast From Haryana, India. He Likes To Write on Topics Related To Blogging Such As Tech,Upcoming Phones , Android, Hacking and Computer!

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