Turn your mobile into your wallet

: You have been buying stuff online. Purchased plane tickets, paid your bills, booked your movie tickets. But now you can do it faster and better. And you need neither an internet connection nor a credit card. Your mobile phone will do. Yes, just send an SMS and the deal’s done.

Enjoying the first mover advantage, wireless transactions platform provider PayMate has launched India’s first purchase-by-text system, which allows shoppers to purchase a range of products and services directly from their mobile phone. And this is not limited to high-end mobile phones with integrated digital wallet technology or those that can scan barcodes. “All that you need is a phone that can send and receive text messages,” says PayMate’s assistant vice-president, marketing, Akshay Sharma.

The times that you are most likely to want to buy a movie ticket, send a birthday gift to your mom, or take an old friend out for dinner, are times when you are least likely to have internet access or carry your credit card details, he says. “But you would definitely be carrying your mobile phone. And with an SMS, your mobile phone turns into your wallet,” he explains.

This simple ecosystem enables wireless transactions connecting banks, switches, merchants and customers using a secure and seamless technology. It works on any handset without the need to upgrade the SIM or GPRS connectivity. Since no debit card or credit card details are ever disclosed during the transaction process, one can make secure payments for a host of services at the retail stores, buy flowers, book tickets and even subscribe to magazines and newspapers, points out Sharma.

Agrees Madhurima Das, who has become quite adept at making purchases over her mobile phone. “I recently purchased flight tickets from Travelmart through my mobile phone and was pleasantly surprised. The convenience of buying while on the move gives it the extra advantage.”

How it works

Powered by the PayMate ecosystem, the system works like this: You first register yourself for PayMate with your bank and based on your mobile phone number, you are given a unique PIN number. This can be used for all your future purchases. Alternatively, you can simply SMS PayMate to 2484 and a bank representative will do the needful. Once you choose to pay via PayMate at any of the accredited merchants, all you have to share is your mobile number. You will instantly receive a SMS (with the merchant name...