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Last Update: Mon, May 21, 2012 7:36 AM IST (2:06 AM GMT)
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Mumbai: India's second largest private sector lender HDFC Bank said it will offer mobile payment services to customers to enable them to make payments through mobile phones using their debit or credit card in partnership with Movida India Pvt Ltd.
Movida India, which offers technology that facilitates the use of mobile handsets to make electronic payments, is a joint venture between Visa and London Stock Exchange-listed Monitise.
“The partnership with Movida is a crucial step whereby we will enable our customers to carry out multiple mobile commerce transactions from the most basic handsets,” Rahul Bhagat, head (direct banking channels) of HDFC Bank, said in a statement.
HDFC Bank has 5.6 million credit cards and 14 million debit cards, he said, adding that the service will encourage customers to use their cards more.
The bank's customers will not be charged for this service.
As on December 31, 2011, HDFC Bank had a network of 2,201 branches and 7,110 ATMs (automated teller machines) in 1,174 cities across India.
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HDFC Bank Ltd is an India-based company. The company was established in 1994. It is a company providing banking and financial services to individuals and corporate houses. The company provides re ...
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