Tata Docomo expects 30% M-o-M Growth

 Aiming to cover 26 cities by the end of this fiscal, Tata Docomo has announced to expand its flagship money remittance and payment service mRupee. With this expansion plan, MMPL will not only serve B2C segment but will also empower B2B customers, businesses, traders, shop- owners and enterprises by providing efficient payment/ cash management services.  TTL will also look to develop synergies with its group companies to offer differentiated services around this mobile money proposition. The company has has plans to introduce bouquet of services around the mobile wallet.

With over 1,700 retail outlets, mRupee is currently available across 11 key cities through its strategy tie-up with ICICI bank and serves as an easy alternative to cash or card payment. In addition to enabling seamless money transfers, mRupee can also be used to pay utility bills, shop online, on mobile or at retail outlets and pay using a mobile device. mRupee will be available on Web, WAP, as a mobile application, USSD and via IVR as an operator-agnostic service. mRupee currently has over 1,30,000 customers and is expanding rapidly growing at nearly 25- 30 per cent every month.

"mRupee is aiding in the creation of a mobile-based digital cash economy that is more efficient, transparent and inclusive. The service is designed keeping in mind B2B as well as B2C customers and will not only cater to the urban youth/ executives but also the migrant population across the country for domestic remittances. It will also complement various retailers by providing them an additional channel for distribution and income generation," said Pradeep Kumar Sampath, COO, MMPL.  

MMP already allows consumers to transfer money without opening an account.