MAM
Stan Chart and VISA launch first mobile credit card ‘m-Wallet’
NEW DELHI: Standard Chartered Bank in association with VISA today launched India’s first mobile credit card called m-Wallet.
Currently being undertaken as a pilot project amongst select Manhattan customers in Bangalore and Mumbai, the industry first secure mobile credit card m-Wallet aims at making shopping easier for people on the move, enabling them to pay for purchases from select outlets using their mobile phones.
Designed to make contact less payments, this new service, using an inbuilt PKI security and JAVA based technology, has been developed by a team of global technology experts using the best security technology standards to protect the privacy and confidentiality of the card holder’s account information. Available free of cost, customers have to download and install a JAVA application using GPRS on their mobile phone. After installation of the application software on the mobile phone the user has to download a virtual Manhattan card on to the mobile.
The m-Wallet technology has been developed through a strategic alliance between Tata Consultancy Services Ltd. (TCS) and C-SAM Inc, known for bringing innovative payment solutions to the banking and financial services sector. TCS has a strong relationship with Standard Chartered and with this new initiative; TCS has once again demonstrated its capability to offer unique and innovative solution to its clients.
According to chief information officer and group head, technology & operations, Standard Chartered Group Jan Verplancke,, “This is a business innovation which builds on the advances that have happened in technology. By providing our customers with a payment wallet in their mobile phones, we empower them with the capability to pay for their goods and services electronically while on the move. This product is also aligned to our young, dynamic and mobile customer base with its ever-increasing usage and builds further on our leadership position in the Cards business in the India market. Standard Chartered Bank will always look at the use of technology for innovation and investments in customer service channels.”
Country manager – South Asia, Visa International Santanu Mukherjee said, “We are happy to partner with Standard Chartered Bank in the offering of ‘m-Wallet’. This innovative payment solution combines the benefits of the payment card with the functionalities of the mobile device and is an evolution in the payment options available to consumers. This is yet another step towards convergence of mobile phones and payment cards and the growth of Universal Commerce – Anytime, Anywhere, Any way.”
Brands
Raj Cooling Systems launches Agreyas appliances brand
Emraan Hashmi named brand ambassador for consumer appliance push.
MUMBAI: A company known for cooling solutions is now heating up its ambitions in the home appliances market. Raj Cooling Systems Pvt. Ltd. has launched a new consumer appliances brand, Agreyas, marking its entry into India’s rapidly expanding home appliances sector valued at more than Rs 1.5 lakh crore. The move represents a strategic diversification for the company, which has traditionally focused on cooling solutions for residential, commercial and industrial applications. Through Agreyas, the firm plans to tap into growing consumer demand for energy efficient and technology driven household appliances.
To build brand visibility, Agreyas has appointed Emraan Hashmi as its brand ambassador. The campaign has been developed under the banner of Zoommantra Productions, with actor and filmmaker Rohit Roy contributing to the creative direction.
The brand’s initial portfolio will include mid premium air conditioners, washing machines, geysers and other white goods designed to cater to modern Indian households seeking efficient and reliable appliances.
Raj Cooling Systems, founder and chairman Kalpesh Ramoliya said the launch aligns with the company’s broader expansion plans.
“The launch of Agreyas is in line with our vision to build a strong presence in India’s consumer electronics and home appliances market. The brand has been developed as a standalone identity to meet the evolving needs of Indian consumers,” he said.
Hashmi said the collaboration comes at a time when Indian buyers are increasingly looking for innovative and functional home solutions.
“I’m looking forward to working with Agreyas at a time when consumers are seeking more innovative and efficient home products. The brand reflects changing consumer behaviour around functionality, innovation and ease of use,” he said.
Raj Cooling Systems plans to invest around 10 million dollars in developing the brand, with an additional 5 million dollars earmarked over the next three to five years for product development and distribution expansion.
Agreyas will follow a multi channel distribution approach, selling through online platforms, retail outlets and dealer networks aimed at both urban and semi urban markets across India.
With the launch, the company is positioning Agreyas as a standalone consumer facing brand while continuing to leverage its existing manufacturing, engineering and research capabilities built through its core cooling solutions business.
