Manappuram Finance has entered into a partnership with MMP Mobi Wallet Payment Systems, a subsidiary and payments arm of Tata Teleservices, to provide alternative physical and online repayment options to its customers. MMPL has obtained a licence from RBI to issue prepaid payment instruments in India. MMPL’s flagship product is the Semi Closed Wallet, under the brand name ‘mRUPEE’. The tie-up will provide greater payment convenience to Manappuram’s customers by enabling access to mRUPEE outlets and also to 2-lakh-plus Tata Docomo outlets in the country over a period.
Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.
