RBL Bank Integrates MasterPass QR into
OnGo Digital Wallet
Masterpass Quick Response (QR) mobile payments solution has come to India. Masterpass QR enables mobile banking users to safely pay for face-to-face purchases using their smartphone or feature phone.
Ratnakar Bank Limited (RBL Bank) is the first bank in India to integrate the Masterpass QR service into the OnGo digital wallet, its mobile platform powered in conjunction with India Transact Services. The OnGo wallet will host a virtual prepaid Mastercard that customers can use for cashless transactions, including for paying taxi and auto rickshaw fares.
Shoppers can make fast, simple and secure digital payments at any place where Masterpass QR is accepted, which means that they no longer need to carry cash or their physical bank cards to make payments. Masterpass QR’s low cost and easy-to-deploy technology is designed to ensure that even the smallest merchants can participate, whether they are in a major city or a remote area.
This offering is a reiteration of Mastercard’s commitment to support the Government’s vision of a less-cash society, while working to ensure no one gets left behind in digital adoption.
RBL Bank Ltd is one of India’s fastest growing private sector banks in the last six years with an expanding presence, with 197 branches and 362 ATMs as of March 31, 2016 spread across 16 Indian states and union territories. The Bank has been recognised by the World Economic Forum as a ‘Global Growth Company’ (GCC) for 2014 and has also been awarded “India’s Best Bank (Growth) in the Mid-Sized Bank segment” for four consecutive years, 2012, 2013, 2014 and 2015 and “Best Bank Overall (Small)” for 2015 by Business Today and KPMG.
Graphic: James Anderson, Executive Vice President, Digital Payments and Solutions, Mastercard & Porush Singh, Division President, South Asia, Mastercard launching Masterpass QR
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