Visa and Monitise to Introduce Mobile Payments Services in India

Movida, a mobile payments joint venture backed by Visa (NYSE: V) and Monitise (LSE: MONI.L), has signed an agreement with HDFC Bank, India’s second-largest private bank, to introduce a first of its kind mobile payment service.

The 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 any mobile subscriber, anywhere and accessed by even the most basic mobile phone.

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