Obopay and YES Bank intros Mobile Payment Solutions in India
Obopay India, a unit of Obopay U.S.A providing mobile payment services, and YES Bank are working together to launch a new mobile payment solution for Indian YES Bank customers. By using a mobile phone, customers will be able to withdraw money or transfer money from one mobile number to another with ease through a secure and convenient process.
This instant money transfer service works either by using an SMS or by transferring via a mobile application downloaded on the handset (J2ME), or a Web application having GPRS connectivity (WAP).
“Together, Obopay and YES BANK are giving Indian mobile consumers power over their money no matter where they are,” commented Obopay Executive Director Aditya Menon. “This service is built for today’s mobile lifestyle, making funds available to consumers anytime they need it and makes your money truly mobile in every sense. We’re excited to bring this innovative service to new and existing YES BANK customers in India.”
However whenever freedom is enjoyed, certain limitations are always involved. Similarly, YES BANK customers can only transfer money to their family or loved ones, provided that even they have registered with the YES Bank – Obopay mobile payment service. In addition, users only have the ability to transfer up to Rs. 25,000/- per transaction to potentially 240 million mobile users in the country using the SMS facility.
Customers can instantly withdraw cash received through such transfers from over 21,000 ATMs nationwide with the help of the YES BANK debit card.
Rana Kapoor, Founder/ Managing Director and CEO, YES BANK, said, “We are pleased to announce our alliance with Obopay India to relentlessly serve the growing consumer demands and enabling YES BANK customers transact anywhere, anytime. The Bank is committed to executing a concerted strategy by continuously launching innovative and secure banking channels to enhance customer satisfaction and increase focus on providing convenience and choice to our clients.”
To register for this useful mobile payment service, YES Bank customers need to fill in the form that will be available at 60 YES BANK Retail Branches and across 75 ATM centres in Mumbai and National Capital Region (NCR). If they want to enjoy a special incentive of Rs.100 by Obopay, they need to register before 30th April this year.
Recently, Barclays’ hello money banking service was introduced across the country that offered transferring funds and paying bills, etc.
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