HDFC Bank’s Mobile Payment Service

The new mobile service finally allows millions of Indians currently excluded from enjoying the benefits of mobile and online payment services to become part of the digital age via their basic prepaid mobile phone.

Movida, a mobile payments joint venture backed by Visa and Monitise, has signed an agreement with HDFC Bank to introduce a revolutionary new mobile payment service. The innovative new service allows HDFC Bank customers to pay bills, top up prepaid airtime and buy tickets from their mobile phone and is designed to operate across all mobile networks using any Visa and non-Visa branded payment account. It can be used by anyone, anywhere and accessed by even the most basic mobile phone.
Naushad Contractor, Movida’s President and head of the Monitise and Visa joint venture in India, commented: “This is a service designed by Indians, for Indians. As we rollout the service to other banks more Indians will be able to benefit from mobile payments. Wave goodbye to waiting in long queues or visiting post offices or payment machines to pay bills as you will now be able to do that right from your mobile phone. This service is going to eliminate the time and energy Indians waste every day waiting to pay bills.”

The new service uses straightforward, menu-based USSD mobile technology making it one of the easiest services to use and the most widely available. After linking their HDFC Bank Visa or non-Visa payment card to their mobile phone number, cardholders can access the service via USSD using Movida’s secure connection.  From then on it is just a matter of selecting a required service and making the payment. The simple menu can complete a transaction in a mere four to five steps.
And not only is the service simple, it’s secure and backed by two of the world’s most trusted brands. The system encompasses various security measures to maintain account integrity, including a unique PIN number set up on the phone to access the account information. Only the user’s bank-registered phone can be connected to the service.

Mr Contractor added: “This technology will be a game changer the way the iPhone was for mobile phones.  This is a smart service for smart people and epitomizes everything Visa and Monitise stand for: it is fast, reliable, secure, and simple - and it will change the way consumers in India pay, forever.”

Rahul Bhagat, head-retail liabilities, marketing and direct banking channels, HDFC Bank, said: “HDFC Bank has always been at the forefront of technology to ensure that our customers have greater choice and convenience at their disposal. 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.”

The new mobile service finally allows millions of Indians currently excluded from enjoying the benefits of mobile and online payment services to become part of the digital age via their basic prepaid mobile phone.

The service is initially being offered to a select number of valued customers before being rolled out across the country later in the year.



prashant n

5 years ago

Can I get more clarification on this point

"Only the user’s bank-registered phone can be connected to the service"

does this mean, if the SIM is changed from one mobile phone to another mobile phone, the bank's mobile payment service will be disabled



In Reply to prashant n 5 years ago

The problem is there are simply too many different handsets today. For example, if you are using a Nokia with Symbian, and want to change it to any Android phone, then the Bank may not be able to send/receive 'appropriate communication' necessary to authenticate the transactions from the handset (like IMEI verification). It is advised that if you are changing your phone then re-register with the bank again.

Motor and Health Insurance may become expensive

The government advised GIC not to provide reinsurance cover to individual insurers on policies in the loss making segment.

Motor and health insurance may become expensive with the government suggesting that insurers should raise premiums to cover their losses. In a letter to the national reinsurer General Insurance Corporation (GIC) the government advised it not to provide reinsurance cover to individual insurers on policies in the loss making segment.

"GIC ...(is) also advised not to give reinsurance for such policies which are loss making as these lead to claims on GIC and for such businesses, let the insurers take risk or enhance premium," the letter issued by the Finance Ministry earlier this month said.

In case of motor insurance, the companies shell out 120% of the premium they collect as claims. Similarly for health, the claims amount for 103% of the premium. The government has also directed GIC to halve commission paid to insurance companies for reinsurance business to 5%.

"The GIC may pay 5% commission on obligatory cession and no such restriction is imposed on cession beyond 10% obligatory cession," the letter said.

Insurance experts said, buying any general insurance like health, motor or property cover would cost more once the proposal of the government is implemented.

"As general insurers' income is expected to be under pressure so there are chances that the insurance companies will pass on the burden to customers," he added.

User launches its mobile website

40 million mobile Internet users can now choose their insurance through their mobile. announced the launch of its Mobile Website. The mobile version of is aimed to cater to the needs of its 5 million visitors who visit the site every month via mobile phones.

The number of mobile phone subscriptions has reached 5.9 billion, an impressive figure in a world of 7 billion people. The growth in the mobile technology is very evident from the increasing mobile subscriber base in India which has reached 893.84 million. The mobile Internet penetration in India is expected to reach 237 million by 2012. The industry experts says that 58% of Mobile Internet is used for search networking sites or Internet and have become the first screen for internet for millions of people in India.

Gone are the days when searching for the best insurance policy for you was a matter of hours. As is launching its mobile website the path to safeguard your future, it is just a few clicks away. With a specific mobile website for, users will now get the option to navigate through the products and see the quotes in a seamless manner thus helping the customer to choose the best plan according to his/ her need.
Speaking about the launch, Akshay Mehrotra, CMO, said, “With increasing mobile penetration in the country, mobiles are becoming the tool for accessing Internet.  The consumers owning Internet enabled handset is growing at 300% a year. We believe the next growth in the e-commerce business will be fuelled by mobile Internet.”  

Talking about the value it adds for users, Saurabh Tiwari, CTO, said, “We are seeing a very large customer base coming from mid to small level towns using mobile phones. This number has doubled in the last 6 months. We have specifically built up this website to cater to these consumers.”

The site has been designed on HTML5, CSS3 and works across major platforms including iOS, Android, Blackberry and Symbian. The site has been extensively tested on multiple devices covering multiple operating systems, browsers and screen resolutions. The key parameters of a mobile site such as optimization, compatibility with various devices, operating systems and a good customer experience have been given the utmost importance.


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