The new PaySmart card service is set to offer a platform for the users to shift from traditional cash based transactions to a secure and private mode of payment.
The PaySmart card will enable mRUPEE customers to withdraw money from VISA licensed ATMs and also pay for goods and services at all merchants that accept VISA debit/credit cards across India.
MMP Mobi Wallet Payment Systems chief operating officer Pradeep Sampath said: "The PaySmart card is a milestone towards realizing Tata Teleservices vision of simple and secured transaction services.
"Keeping financial inclusion in mind, we have worked towards creating this product for all customers who can now have a choice of cashless dealings.
"Amongst the host of offerings around mobile money, this product addresses a clear gap of Cash Out which is currently not available with the Semi Closed Wallets. There is a clear need in the marketplace for such an offering at the right price and feature set."
RBL Bank direct banking channels senior vice president and head Ritesh Pai said: "More than just the exciting technologies, these digital innovations are transforming our way of life.
"Keeping in mind our focus on digital inclusion with everyone having access to technology, we have partnered with Tata Teleservices to offer this service to consumers wherein they can make payments via mRUPEE payment gateway service."
