MChek Ties Up With Online Merchants; Looking To Raise $5-!5 Million; RBI On Payment Systems

Entities Mentioned

• Nikhil Pahwa
• Draper Fisher Jurvetson
• Economic Times
• Sify Technologies Ltd
• PayMate
• JiGrahak
• MasterCard
• Itz Cash
• Airtel
• TiE

1. Mobile payments service MChek has tied up with some fairly large online merchants - FutureBazaar.com, Indiatimes.com, SifyMall.com and Yatra.com. However, the service is limited to Airtel subscribers who own Visa or MasterCard credit cards. It's not an exclusive deal - competitor Paymate already has some of these (and more) signed up. As per the release, MChek intends to expand its service to other telecom operators...but we've heard that before. Mobile payment companies exist across banks/financial institutions and mobile operators. They'll also need to go beyond the credit card users. The Economic Times reports that MChek is ... (Read Full Article)
   
   

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