Editorials

by Rajen Kumar

No Escaping Social Media

Running a magazine concentrating on issues of small and medium enterprises and managing with limited resources is a like living life on the edge. In this rush of meeting deadlines,...

Special Reports

Apr 2012

EMRC, Brussels Associates with SME WORLD as its New Media Partner

EMRC has promoted business partnerships with the developing world and has organised dozens of business forums in key decision-making cities, such as Amsterdam, Rome,...

Interviews

M-payment, mobile payments approved by RBI.

Aug 2009

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With the RBI green signal to m-payments, almost all retailers are ready to jump on the bandwagon to adopt m-payment platforms to ensure that they offer this convenient service to retail consumers. To improve shopping experience and gain the competitive edge, retailers need to rapidly integrate m-payments solutions with their existing IVR/CRM systems. Having said that, security still remains the biggest concern for mass consumer adoption. To ensure privacy and secrecy of customer account information, IVR systems need to be completely automated without any manual intervention.

Atom technologies' solutions enable mobile-based over the counter as well as remote payment transactions that ensure an effective reach with security and convenience. atom enable transactions through customers' mobile phones, be it payments over the internet, money transfers, ticket booking, loyalty programs, day-to-day shopping, home delivery or cash withdrawal at an ATM machine (will be introduced soon). atom not only shift the customer to the next level of security after the magnetic stripe but also provide greater convenience by enabling faster counter payments, remote payments and secure ATM transactions through a mobile phone. atom also has an IVR-based solution which enables automated acceptance of card payments over the phone (like VISA/ Master/ AMEx / ITZ Cash Etc) without any manual intervention.

Atom Technologies, certified by PCIDSS (Payment Card Data Security Standard) provide m-payments solutions that ensure an effective reach with security and convenience. They are also India's first m-payments provider to receive VISA PABP security certification.

Their product 'Pay Buzz' is an IVR based solution which enables automated acceptance of secure credit card payments over the phone without any manual intervention.

SME WORLD talked to Dewang Neralla recently.

The concept of m-payment is catching up in India. How m-payment scores over e-payment and how safe it is when compared to e-payment?

There are multiple scenarios by which m-payments will score on e-payments. Some of the most evident advantages of m-payments over e-payments are as follows:

Convenience - People can pay and transact on the move. Imagine paying utility bills while stuck in a traffic jam.

Ease of user - What can be easier that paying by the press of a button of a device that you carry most of the times.

Security - The sheer evidence of the device being in your own control gives you the confidence. Added to this confidence is of course the security guidelines prescribed for any m-commerce application by RBI.

Scale - There are far higher numbers of mobile phone users as compared to internet users and this continues to grow.

What is the scope of its adoption by middle-level industry?

Middle-level industry normally is the first to adopt any innovation because of the overall cost-benefit analysis and growth possibilities. Same is the case for mobile payments, which we feel will be adopted by middle level industry, but ultimately, this would depend on type of business. For e.g. at this stage, m-payments cannot be used for making payments to suppliers etc, however, same can be enabled wherever there are direct retail customers.

Kindly explain in very simple terms how m-payment works.

There are multiple modes of implementing m-payments like using SMS, application over GPRS, USSD etc.. The way we at atom have implemented this by having an application on the mobile phone. All a customer needs to do is to either enter their mobile number on atom web-site (www.atomtech.in) or send a SMS <atom> to 54959 to get the link of the application.

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