Technology

Novopay App and Wallet to revolutionize mobile payment system

In the recent years the online payment system has almost taken over the cash transactions, and now with more and more people getting hooked to the mobile phone, the needs of people are changing. They want everything at the tip of their fingers and on the move. Catering to such needs of people, Novopay has launched its consumer payment app along with a bank partnered wallet and also aiming at revolutionizing mobile payments in India. With Novopay one need not worry about carrying cash, card and hassle of tendering exact change.

Using the consumer payment App and a Bank partnered Wallet account, users can make payments to their neighbourhood shops and online merchants. They can also send money to their phone contacts, pay bills, buy recharges etc. Meanwhile, the Novopay wallet accounts can be opened easily at any establishment that accepts the Novopay app payment and consumers do not necessarily require smart phones to use it.

This Android application was developed by Novopay Solutions Bengaluru which was launched by Khosla Labs. The Novopay App comes with a full featured mobile bank wallet partnered by RBL Bank which will allow for cash withdrawal or loading of wallet at any of the Novopay retailers nationwide. The Novopay Wallet can also be conveniently loaded using credit/debit cards or your bank account. It can also be loaded at any neighbouring Novopay enabled merchant.

Speaking at the launch of the Novopay App, Srikanth Nadhamuni, Chairman Novopay, said “With this user friendly App, consumers will also be able to pay conveniently for home deliveries, send money to family and friends, buy mobile and DTH recharges, pay mobile and other utility bills and purchase goods online.”

Novopay has over 12,000 retail points across India from where it already offers banking and money transfer services to walk-in customers since April 2014 in partnership with Bank of India, Axis Bank and RBL Bank. With the launch of the Consumer App and wallet, this new payment mode will be acceptable at over 85,000 merchants, both offline and online, by September end, said Novopay CEO, Sridhar Rao.

Meanwhile relating about the initiative Mr. Vinod Khosla, Chairman, Khosla Ventures, said: “Novopay envisions to create bank accounts for the unbanked, and allow for mobile based cash less transactions to millions of consumers and merchant locations across India. This technology has the power to bring convenience and complete financial inclusion to every corner of India in the next few years”.

 

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Luna Dewan

Luna Dewan

With six years of her journalism experience, Luna Dewan has worked for leading print media like the New Indian Express, Deccan Chronicle and DNA. She has been writing on healthcare, environment and various other civic issues. She is now with Techspirit.in as the Assistant Editor.

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