TAIPEI, SEPTEMBER 11 – After a successful pilot run, YES bank of India begins full commercial launch of SIMsePay, a Mobile Payment Solution which can work on both feature phones and smartphones that utilize Taisys SIMoME® Encrypted SMS-based SIM sticker solution, to 15 co-operative banks. Given the stupendous success of the JAM trinity, today almost every family has a phone and an account. Of the 1.2-billion phone users, a majority of these continue to be feature phone users and as per recent reports the growth of feature phones is increasing YOY. According to global industry analysis firm Counterpoint, the feature phone market doubled while the smartphone market remained flat on-year for January-March.
The SIMsePay program was approved by the Reserve Bank of India on May 2018. YES Bank will extend these services to more co-operative banks in the coming months. The customers of these co-operative banks have started enjoying secure financial transactions which include fund transfer, Peer to Peer Payments, Mobile/D2H recharge and utility bill payments on their mobile phone without the need of internet, and it works across all telecom operators and handset make.
Click here for full news article on YES Bank SIMsePay from The Hindu Business Line.
About YES Bank
YES BANK,India’s fourth largest private sector Bank, is an outcome of the professional entrepreneurship of its Founder Rana Kapoor and his highly competent top management team, to establish a high quality, customer centric, service driven, bank catering to the “Sunrise Sector of India”. YES BANK is the only Greenfield Bank license awarded by the RBI in the last two decades, associated with the finest pedigree investors. YES BANK, a "Full Service Commercial Bank”, has steadily built a Corporate, Retail & SME Banking franchise, with a comprehensive product suite of Financial Markets, Investment Banking, Corporate Finance, Branch Banking, Business and Transaction Banking, and Wealth Management business lines across the country.
About Taisys Technologies
Taisys Technologies is a world leader in providing mobile interconnectivity and vertical integration solutions to various industries. Taisys’ solutions enable telecom, financial institutions and government organizations to extend innovative mobile services in a secure and convenient manner.
Established in 2005 and headquartered in Taipei, Taisys has built solutions based on its patented core technology SIMoME® (Thin SIM), which decouples value-added services from the main SIM, and empowers industry players the ability to deploy innovative services on the mobile equipment.
Over 1,300 banking and 20 M(V)NO partners have deployed mobile-based value-added services enabled by Taisys’ technology and platform to 10 million end-users worldwide.