Monday
December 19
2016

How Paytm is brazenly piggybacking on banks and telcos in India

It should be galling for telecom service providers like Airtel and Vodafone to find Paytm (used as a metaphor for mobile wallet service providers) using the mobile numbers of their customers to provide mobile wallet services to them.

Alas! If only they had been a little more agile and not allowed grass to grow under their feet so as to enable Paytm to flourish by using the property belonging to them.

What they should have done is laughably simple. Allowing subscribers to use the telcos’ mobile wallet service free or as a value added service makes eminent practical and business sense.

That the payer and payee need not always be using the same telco’s services need not be a major impediment. In telecom business, the service provider from whom a call emanated pays connectivity charges to the one in whose telephone the call terminates.

A similar understanding could be reached for mobile wallet services provided to the payer by one telco and payee by another telco.

Source: Daily O (link opens in a new window)

Categories
Technology
Tags
digital currency, financial inclusion, fintech, mobile money, telecommunications