Movida signs agreement with HDFC Bank

Movida, a mobile payments joint venture backed by Visa and Monitise, both listed at international stock exchanges, has signed an agreement with HDFC Bank, to introduce a 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 or non-Visa branded payment account. It can be used by any mobile subscriber, anywhere and accessed by even the most basic mobile phone.

"This is a service designed for Indians. As we rollout the service to other banks more Indians will be able to benefit from mobile payments." said Naushad Contractor, Movida’s President and head of the Monitise and Visa joint venture in India.

"This service is going to drastically reduce the time and energy Indians waste every day waiting to pay bills "