Axis Bank recently launched its mobile payment solution for its
debit card users. Called Axis Call & Pay on atom, the service
uses an IVR based solution by Atom Technologies to provide secure
debit card based payment over IVR.
“India has seen remarkable growth in its debit card market
over the past few years. The debit card spends at merchant POS
terminals increased by 48 percent to Rs 18, 547 crore during the
year 2009. The debit card spends stood at Rs 12, 521 crore for the
previous financial year. Customers were, however, not able to pay
remotely using debit cards. This solution makes it very convenient
for our customers to get the most out of their debit card, while on
the move, in a secure manner,” informed Manju Srivatsa,
President, Retail Banking, Axis Bank.
To avail the service, customers of the bank have to first link
their mobile number to their debit card. This can be done at any of
the Axis Bank ATMs. The customer has to select the Axis call and
pay option on the screen and then enter his 10 digit mobile number
(without any prefixes such as 0 or 91). Once done, the system gives
a call-back and guides them to set a 6 digit mPIN, which has to be
used during each transaction.
The advantage of the service is that it works with any mobile phone
as it uses the simple and primary calling functionality of the
mobile phone. However the service can be used for transactions only
with Atom technologies enabled merchants. Currently, this
service is available for merchants such as Vodafone, Tata Sky, Sun
Direct and Dish TV. The company is looking to further enable
around 100 major merchants across sectors such as Telecom, Mobile,
Entertainment, Travel and Insurance.
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