Tata Docomo, an India-based telecommunications provider, reportedly has announced plans to expand mRupee, its money transfer and payments service, to 15 additional cities in India. At present, mRupee is available at 1,700 retail outlets in 11 cities. Tata Docomo subsidiary MMP Mobi Wallet Payments Systems will handle the expansion of mRupee.
The mRupee mobile currency is operable via several technology platforms including the internet, a mobile application and interactive voice response (IVR). MRupee currently claims to service 130,000 customers in India. Tata Docomo is a joint venture of India’s multinational conglomerate Tata Group and Japan’s Nippon Telegraph and Telephone (NTT) Docomo. During 2012, Tata Group reported sales of USD 98.1 billion in approximately 150 countries. NTT Docomo serves 62 million customers in Japan in addition to operations in Asia, Europe, Brazil and the US. As of 2012, NTT Docomo reported assets of JPY 6.95 trillion (USD 81 billion).
By Meraj Husain, Research Associate
About Tata Group
Tata Group is a multinational conglomerate located in Mumbai, India. The company is focused on seven business sectors: communications and information technology, engineering, materials, services, energy, consumer products and chemicals. As of 2012, Tata Group reported sales of USD 98.1 billion in approximately 150 countries.
Sources and Additional Resources
[1] Telecom Lead Article: “Tata Docomo to take on Vodaphone in mobile money market,” http://www.telecomlead.com/mobile-vas/tata-docomo-take-vodafone-mobile-money-market-98954/
MicroCapital, October 29, 2013, “Airtel, Tanzania Postal Bank (TPB) Partner to Offer Mobile Banking Services,” https://www.microcapital.org/microcapital-brief-airtel-tanzania-postal-bank-tpb-partner-to-offer-mobile-banking-services/
MicroCapital, September 29, 2012, “India’s Life Insurance Corporation, Mobile Operator Robi Axiata of Bangladesh Launch Microinsurance Offerings,” https://www.microcapital.org/microcapital-brief-indias-life-insurance-corporation-mobile-operator-robi-axiata-of-bangladesh-launch-microinsurance-offerings/
MicroCapital Universe Profile: Tata Group, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Tata+Group
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