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Digital India 2012 Trends – Part 7

January 24th, 2012 · 7 Comments

Mobile Payments: Mired in regulation

One of the big boosters for monetisation on the Internet and eCommerce can come from enabling mobile payments. Here, regulation by RBI and the payout regime from the DoT has ensured that mass-scale mobile payments remain a mirage.

Imagine being able to pay for a book you bought by just having it added it to the phone bill (or being deducted from a prepaid amount). If this process is simplified, then even an SMS sent by a merchant can turn into an actionable transaction with the consumer just smsing a Y to complete the purchase.

To make this happen, while the theory of mobile wallets happens, the process is simply too cumbersome. For sub-thousand rupee payments, we need a simpler process. Operators should have not to pay service tax and revenue share to the government on these charges. They can take a transaction fee (3-10%), and pass on the rest to the merchant.

Unfortunately, 2012 is unlikely to see much change on this front.

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7 responses so far ↓

  • 1 mockingbuddha // Jan 29, 2012 at 4:03 am

    need of the hour, but then do you really want to make 10 lakh rupee payments using your mobile or your tablet.

    should we not wait for the mobmo system to attain some maturity before we can use it as causally as we use paper money?

    shouldnt we wait for a few infectious scams and the immunity of the system be tested anbd bolstered before the whole thing is let free?

    i think some conservatism in this regard is good. mobile money is full of promise, but isnt it full of traps too?

    better we start small and let the viruses hit the system and immunise it before we venture into full monetary portability.

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