Now, use your mobile phone as a credit card

February 19th, 2008 - 8:34 pm ICT by admin  

New Delhi, Feb 19 (IANS) After being a camera, an FM radio, and an MP3 player, the mobile phones are now all set to play the role of a credit card, Reliance Communications (RCOM) said here Tuesday. The Anil Ambani-promoted telecom firm, in collaboration with the HDFC Bank, launched what the company says was India’s first virtual credit card.

The virtual credit card called “Reliance mPay Credit Card” will allow its subscribers who also have an HDFC credit card, not to carry plastic to make payments.

The bank will identify its customer with the user’s mobile number that will suffice as the credit card number. It will then authenticate the information with RCOM, which will be used to initiate and authorise payments using the customer’s mobile phone.

“An HDFC Bank customer can now shop using his Reliance mobile and make payment without disclosing details of his credit card,” said Rahul Bhagat, country head (retail liabilities), marketing and direct banking channels, HDFC Bank.

Reliance mPay services will also offer Reliance mobile post-paid bill payment, prepaid top up and payment of Reliance Energy monthly electricity bills.

It will be extended to allow the customer to book movie tickets, travel tickets, merchant payments at shops, restaurants and shopping on the Internet among others.

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