Why TerraPay Makes Sense For Mobile Wallet Providers
TeleAnalysis interviews Ambar Sur, Founder & CEO of TerraPay
India has more than 20 mobile wallet providers and around 200 million subscribers, shared among operators like PayTm, Freecharge, Mobikwik, Vodafone m-Pesa, Airtel Money, Oxygen Wallet, ICICI Pocket etc. While the mobile wallet business is growing, there is one major factor that is hindering the growth to its potential – interoperability.
At current scenario, one can not transfer money from Airtel Money to Vodafone m-Pesa and vise versa. Similarly all these mobile wallet service providers work in their own network and inter-mobile wallet service is not there. There, the fundamental purpose is defeated – to enable the unbanking population to bank without making them face a technological barrier.
And there comes TerraPay as a saviour. Read on