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Tech Mahindra launches contactless wallet ‘MoboMoney’

24 Dec 2015 Evaluate

Tech Mahindra, a specialist in digital transformation, consulting and business re-engineering, has launched India’s first contactless digital payment ecosystem, branded MoboMoney. MoboMoney is a prepaid wallet issued in the form of an NFC (Near-Field Communication) Contactless Tag. It can be used to ‘Tap n Pay’ on a network of NFC enabled Merchant POS, thus allowing customers without an NFC-enabled phone to enjoy the simple tap and pay experience to purchase goods. Further, with the increasing penetration of NFC enabled Mobile Devices, MoboMoney Mobile Wallet application will soon be available to use the embedded NFC capability of mobile devices along with other cutting edge technologies that would simplify and enhance the customers’ payment experience.

India’s first commercial NFC ecosystem rollout, MoboMoney allows consumers to load their wallet by paying cash at its 1000+ retail network, helping convert cash into e-cash. The money loaded into the customers’ digital wallets can then be used to Tap n pay for over the counter payments, recharges, make bill payments, as well as pay online - converting what were earlier payments done in cash, into digital payments. If the user wishes, he / she can link a bank account to the MoboMoney wallet and can retrieve the unspent amount from the wallet into the linked bank account.

Tech Mahindra has been in Middle East for over 12 years with operaticns across UAE, Saudi Arabia, Qatar, Oman, Kuwait, Bahrain and Turkey. The key focus verticals in the region are Energy & Utility, Telecom, Banking, Retail, Travel & Transport, Public Sector, Healthcare and Sports.

Tech Mahindra Share Price

1504.10 -7.75 (-0.51%)
20-Apr-2026 16:01 View Price Chart
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Company Name CMP
TCS 2578.45
Infosys 1311.95
HCL Tech. 1428.35
Wipro 202.40
Tech Mahindra 1504.10
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