Shoppers can make fast, simple and secure digital payments at
any place where Masterpass QR is accepted, which means that they no longer need
to carry cash or their physical bank cards to make payments. Ratnakar Bank
Limited (RBL Bank) is the first bank in India to integrate the Masterpass QR
service into the OnGo digital wallet, its mobile platform powered in
conjunction with India Transact Services. The OnGo wallet will host a virtual
prepaid Mastercard that customers can use for cashless transactions, including
for paying taxi and auto rickshaw fares.
Masterpass QR’s low cost and easy-to-deploy technology is
designed to ensure that even the smallest merchants can participate, whether
they are in a major city or a remote area. This offering is a reiteration of
Mastercard’s commitment to support the Government’s vision of a less-cash
society, while working to ensure no one gets left behind in digital adoption.
“The digital payment industry is fast transforming and
continuously evolving in India. Our focus is to innovate new, safe and secure
technologies that bring the benefits of electronic payments to even more
merchants, banks and consumers.” says Porush Singh, Division President
- Mastercard, South Asia. He further adds, “With Masterpass QR, we are
advancing the use of cashless payment methods to limit the flow of cash in the
economy and take decisive steps toward realizing the dream of Digital India.”
Ravi Goyal, CMD, AGS Transact Technologies Limited and Chairman,
India Transact Services Limited said, “Ongo and Mastercard’s joint initiative further strengthens our
brand’s commitment to provide end-to-end capabilities for enabling seamless
payment solutions. Given the Government’s impetus to cashless economy and its
digitization, our association will bolster the way consumers transact. We are
extremely delighted to present such a first-of-its-kind global
integration product with Mastercard.”
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