Mobile Commerce with ngpay

Despite the Global Credit Crunch, with almost 5-6m subscribers being added every month the Indian Telecom Industry is the fastest growing one in the world. The mobile population is expected to hover between 325m to 350m by end of 2008, making the mobile based services in India to be a very profitable venture.

The Mobile based services includes a gamut of services apart from just the ringtones and SMS. These services include downloading entertainment content like songs, games etc., buying tickets for travel, entertainment etc, mobile marketing, and mobile banking services. These mobile based services in India can be accessed using SMS or GPRS

According to a report released today by the Internet and Mobile Association of India [IAMAI], the mobile value added services would become a $4 Billion industry by 2010 in India. Anticipating this kind of growth, many companies have mushroomed in the past few years. These companies create content for the mobile based services on the mobile platform.

Of the mobile based services, the most popular is Mobile Commerce which facilitates Mobile banking and transaction services. Mobile Commerce received a shot in the arm when RBI came up with guidelines for mobile banking in Sept ’08. The benefits of Mobile Commerce will be reaped in the rural areas, where it will help strengthen the rural microfinance projects. 

Of the products that have emerged the most popular ones are ngpay, Paymate and mChek. Most of the products offer similar services like  

• Storing Debit Card, Credit Card and the Internet Banking details securely under a pin
• Transactions with the bank like checking the balance, transfer funds etc
• Booking tickets for cinema from multiplexes like the Inox and Adlabs
• Booking tickets for travel from IRCTC, Yatra etc
• Buying gift items, books from Landmark etc
• Paying utility bills, telephone bills, Insurance Premiums

How does it work?

When you make a purchase or any bank transaction, these transactions happen over a 128 bit encrypted network. Once the purchase of a product/ service is done the payment for it can be done using credit card info or internet banking info saved in the phone.

NGPay

One of the popular mCommerce applications is NGPay by JiGrahak Mobility Services. It has tied up with HDFC Bank so that one can do all kinds of bank transactions like checking the balance, funds transfer at the touch of a button on your mobile, booking tickets, buying gifts and paying bills. To use this service one needs to have GPRS enabled in their handsets

How to use the NGPay service 

• Go to the website of NGPay (www.ngpay.com)
• Enter the mobile number to download the application
• Click the link sent and download the application into the phone

Once the application is downloaded, one needs to fill out the personal details along with a 6-digit pin to access the application. This application is secure as the pin is nowhere saved in the phone, but on the NGPay Server. Once the above is done, NGPay will call up to authenticate and confirm the personal details filled up. 

Payment for the products/services can be done by credit card (Mastercard/Visa), HDFC Bank Account, ITZ Cash Cards. 

Once the registration is done one can browse through and add from NGPay’s network of partners (merchants and service providers).

Image Credit: Copyright of ngpay.

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