TranServ offers QR payments at Indian toll booths and petrol pumps
TranServ has initiated a QR based payment system for toll booths and petrol pumps across India. mVisa is a QR code-based contactless payment system which will enable users to make payments from a smartphone. TranServ CEO Anish Williams has stated that the company will deploy mVisa-enabled payments at 100,000 merchants over the next month or so and that this segment is expected to grow as the company continues to see demand for similar solutions.

PUNE: Financial technology firm TranServ is rolling out mVisaenabled payments at toll booths and petrol pumps across the country. mVisa is a QR code-based contactless payment system which will enable users to pay from their bank wallets using their phones.TranServ CEO Anish Williams told ET that the company will deploy mVisa-enabled payments at 100,000 merchants over next month or so. "mVisa is currently available across seven banks in In dia, including SBI, HDFC, ICICI and Axis Bank, and others are in the process of signing up. We want to build an acceptance railroad that can be used by our customers as well as bank customers," Williams said. In the first phase, TranServ plans to focus on rolling it out at toll plazas, petrol pumps and quick service restaurants. The company has tied up with toll plaza operators such as GMR and L&T IDPL, and is in talks with others.M Murleemohan, operations head-roads and projects at L&T IDPL said, "A lot of the toll plazas are in rural areas where card usage is still to pick up. We were looking for a solution that would not rely on smartphone or internet availability, which is why we found this an attractive option." Depending on where the toll booths are located, internet connectivity can be an issue. Given that this doesn't need any specific hardware to be deployed makes it easier to roll it out faster across merchants.The mVisa solution will work like most other similar solutions where the user will scan the QR code and the payment will be processed from the preferred bank wallet. Williams said that this segment is likely to continue to grow since the company expects to continue to see demand for similar solutions over the next six months.