Mobile apps are utility of future as more than 50 per cent of the internet search these days are taking place through mobile.
Smartphones going cheaper is one of the major reasons for the spurt in virtual wallet users. In Koramangala, virtual wallet users are rising at around 50 per cent annually. It’s surely only a matter of time before the whole of the city uses technology in the form of prepaid payment cards to make cash obsolete. The only reason we need cash at the moment is to pay for those small items from retail stores, but soon it will become the norm to pay for everyday goods via some kind of payment card. Today more and more people have smart mobile phones and access to the internet means that people could quite easily make payments through mobile phones. Ultimately you can’t stop advancing technologies and no matter how much you dislike mobile phones and the internet, it’s surely now only a matter of years before we become a cashless society where digital money replaces physical money.
City Kemp News
Bengaluru based start-up, Momoe, the fastest growing mobile payment app company, has 1000 auto drivers in Bengaluru already accepting cashless payments through Momoe. Taking convenience to the next level, commuters will now just have to enter the driver’s mobile number and the auto fare in the App to make the payment to the driver.
Currently, drivers from ‘Namma Auto’ and ‘Peace Auto’ Koramangala as clusters are a part of this initiative and have started accepting the payment through this app. Consumers will be able to easily identify autos that offer increased convenience through online payments by spotting the Momoe signage.
“Carrying cash and finding small change is a recurring problem for auto commuters and drivers in Bengaluru. Our new initiative is an endeavour to bring them on a single platform providing more convenience and a seamless experience of cashless payments”, says KarthikVaidyanathan, co-founder of Momoe.
Raghu Narayanagowda, General Secretary of Peace Auto, says “It gives us great pleasure to partner with Momoe because they are providing technological advantage to the auto driver segment. Even auto drivers who aren’t equipped with smart-phones can now accept mobile payments through the Momoe App”.
“Our vision of mobile payments when people eat out, shop and commute is now possible. With a network of 1000 restaurants and retail stores, and 1000 autos now signing up in Bengaluru, Momoe users can truly go cashless”, added Karthik.
Launched in August 2014, Momoe is a mobile payments app for users to pay at brick and mortar (offline) merchants like restaurants, grocery stores, pharmacies, spa and salons etc. The app is flexible in terms of payment options allowing users to pay through credit cards, debit cards and net banking.
In fact, as part of its plan to enhance a customer’s experience, Momoe is also offering 100% cash-backon the first payment and 10% cash-back on all subsequent payments for users.
Launched in August 2014, Momoe is a mobile payments app for users to pay at brick and mortar (offline) merchants like restaurants, grocery stores, pharmacies, spa and salons etc. The app is flexible in terms of payment options allowing users to pay through credit cards, debit cards and net banking. Additionally, it also allows the merchants to enable loyalty programs and send targeted offers to Momoe users. It thus enables a quick, convenient, user-friendly and cashless way of making payments.
Headquartered in Bengaluru, Momoe was inspired by the thought of extending the reach and power of smartphones, by facilitating payments through them in real world outlets. This is in view of the increasing smartphone penetration in India and the growing propensity of consumers to transact on their mobile on m-commerce platforms. Affirmative about its offering, Momoe believes that itenables a better user experience and customer analytics to traditional ways of making money transactions.
A big chunk of its user base comprises young urban working professionals in the age group of 25-40.