All Posts by Himanshu Sheth

|In: startups|Last Updated: | 1 Comment

Zuver, an integrated driver on demand app has announced the launch of its operations in Mumbai. Zuver is the title sponsor of the Mumbai Cocktail Week, the first of its kind, a week long celebration of cocktail craftsmanship in the city’s most celebrated bars. The application was launched at the inaugural event of the Mumbai Cocktail Week, in presence of Media and the Founders.

Zuver’s unique selling proposition is that it promises a reliable, skilled, well-trained ‘driver on demand’ at your doorstep with just a tap of a button. Based out of Mumbai, the application intends to revolutionize the Driver On Demand segment by simplifying the way customers book drivers. Addressing the acute gap in the market today with regard to skilled drivers, Zuver offers a comprehensive application allowing you to book, track and pay for a premium driver service.

Zuver stands out amongst the other Driver on Demand Service providers through its high standards, convenience, competitive price and accessibility. The service is available on Android, iOS and over phone bookings. It offers customers great flexibility enabling them to book a driver in advance or real time, for an hour or a whole day. The technology that powers Zuver allows them to locate and dispatch the driver positioned closest to the customer, within 30 minutes.

Zuver is committed to ensuring the safety of its customers; it goes great lengths to ensure that each driver is skilled, trustworthy and reliable. Each driver undergoes a rigorous screening and verification process which include multiple rounds of interviews, tests and agency checks. Additionally, all selected drivers receive training to enhance soft skills ensuring that they are presentable, well groomed, courteous and polished.

[Sidhanth Mally, Co-founder, Zuver along with Archit Singhal, founder and CEO, Mumbai Cocktail Week and Hemant Pathak, celebrity mixologist at the launch of Zuver – Your Driver on Demand]

Co-founded by Sovin Hegde, a Harvard alumnus and Sidhanth Mally, an ex-consultant and Kings College London alumnus, Zuver is aimed at a wide range of customer segments. It is unarguably on its way to tapping a market with immense potential and setting new standards for the under-served segment.

Speaking at the launch event, Sovin Hegde, co-founder of Zuver said

It gives us great pleasure to announce that we are launching our affordable, accessible and simplified driver of demand services through our new venture Zuver. We have been working on this project for a while and the product is a ‘dream come true’. Zuver, your driver on demand is backed with strong technology and we can’t contain our excitement for this platform to go live. Team Zuver has worked relentlessly to acquire sources, bring them together and make it what it is today. We are hoping for a splendid response. ‘Zuver’ is the German term for ‘Reliable’ and we are here to live up to the name.

Sidhanth Mally, co-founder of Zuver added

After months of working, reworking and revising, Zuver, your driver on demand is finally here. We are proud to present your ultimate one stop mobile application that would give you reliable, professional drivers at your doorstep. For us, drivers are our brand ambassadors who embody the premium, reliable, trustworthy and professional feel of Zuver. We can’t wait to see the response. Zuver is one of a kind and we believe that we would live up to your expectations.

About Zuver – Driver on Demand
Zuver is a start-up with a unique selling proposition –a service that promises reliable, skilled, well-trained ‘driver on demand’ at your doorstep. They aim to make their drivers the gold standard for industry drivers and create a new benchmark. This mobile-first company that offers the best in class service is on its course to expand its presence in other metros. Zuver, Your driver on demand is available on Android and iOS or at 022-43686868. For more information, please refer Zuver

|In: General|Last Updated: | 0 Comments

When we talk about ‘Cricket’ in India it is not only refereed as a Game that is enjoyed and worshiped by majority of the Indian population. Rewind many years back (1980’s), West Indies was the team that had awesome bowlers that were experts in bowling bouncers!! That was the time when ‘Test Cricket’ was played a lot and also enjoyed by many. In 1990’s, One day cricket (50 over format) gained momentum and slowly took over the numero uno position. Batsmen became more aggressive since they had only 50 overs in hand unlike test cricket where there were 5 days to prove their worth 🙂

As they say, only thing that is constant in life is “Change”. Fast forward now, T20 cricket (20 over format) is most watched format since T20 means “Hard Hitting”, more 6’s, more boundaries & eye-catching fielding. In our apartments, we also play another format of Cricket termed as “Box Cricket” where there are lesser players, confined space and more focus on techniques (cover drive being the favourite shot).

One more game that has gained popularity is Football. In fact, Football is now looked upon as a serious career by many and some credit for this should be to the “Schools” who are taking right steps in nurturing talent. As mentioned earlier, you require more elegance when you have to play consecutive cover-drive’s (when space is confined). Same holds good for football where you have another variation of football called ‘Futsal’. Futsal is played in Uruguay and Brazil but is now seeing wide-spread adoption in India. As you would have guessed it is played indoors and is a five a side game. It is a modified version of football that would test and hone your skills 🙂 Futsal Federation of India has played important role in popularizing that game in India.

In fact, such is the growing craze of Futsal in India that even FIFA players (former or current) want to grab a share of this pie 🙂   Luis Figo (Former Fifa World Player of the Year) has expressed interest to start his own academy in India. As per this article, he would be on a 3 day visit to India (covering Mumbai and Chennai). There is a growing craze of the game in India and the legend wants to “take the craze to the next level”.

Considering that there are many malls that have facilities for Indoor Football and introduction of Inter-School Under-12 Futsal Cup are proving that it is an opportunity that needs to be pursued. If you are football fanatic, than you should definitely watch out for Luis Figo in India and he is as excited to be in India (as we are :)). Given there is huge space crunch (with amount of open-space for playing reducing in India), there are many youngsters who have started ‘Rooftop Futsal’ in Chennai.

As we write this article, the World Cup T20 finals (West Indies vs England) is underway and there is still lot of excitement in India, even though we are out of the tournament. With Shortened format being the flavor of the season, we are sure that Futsal is here to stay in India and reach newer heights. With India being on radar of former FIFA players  (like Luis Figo), time would surely come when you would have Futsal Tournaments that would grab more eye-balls than T20 !!!

You just need Grass Field (or artificial Turf), Confined Area and Football Kit to play Futsal and we are sure that you can find plenty of Confined Areas around you to get started with Futsal.

Let’s Futsal !!!

[Image Credit* – Futsal]

|In: Unconference|Last Updated: | 0 Comments

Drug saves life. In contrast to this common note there is one aspect of it hardly discussed-its adverse effect. Mylan recently hosted Mylan Hackathon at its Global Center in Bengaluru on March 19-20, 2016 with a focus on Better Health for a Better World. Mylan Hackathon 2016 presents the world a solution that shall change the way we can address this problem. Team NTT Hackers came up with a solution that presents with an un-surmountable amount of options to solve it.

Mylan Hackathon 2016 lived up to its ethos of providing the world with solutions that shall change the way healthcare is delivered and perceived in the country. The company will take active interest in the winning ideas and would bring about a pilot state to give life to the ideas and bring about a realism to the models.

The solution provided by the winning team- NTT Hackers will  Identify and record patients’ adverse effects & help Mylan to continually offer better treatment. Also, visualizing where diseases are spread  geographically and the scale of impact will help the supply chain to be more efficient and effective at getting medication to the right people, in the right regions, at the right time. In healthcare, timeliness is the key and this solution delivers just that along with providing an extensive map of the disease spread.

[Source – Facebook]

The next two teams to hail the podium at a tie were- Bang On Hackathon and Thea. While the first team had an objective of building up a solution both offline and online to enable patient take the first step towards diagnosis of HIV. Diagnosis – Ask patient a list of questions to evaluate their probability of suffering from HIV, Awareness – To educate person about preventive measures, post diagnosis medical care and patient support group. Lastly, outreach to remote areas providing medical assistance to patients based on the evaluation criteria through the Application was another pillar of the solution provided by Bang on Hackathon.

Thea developed an AI based chat application, which will start off with limited options and then keep updating its knowledge base, based on user queries. This can be used to access info on diseases, treatments, track drug usage and capture potential adverse events/adverse drug reactions.

Expanding the horizon of opportunity, Myklan Hackathon 2016 saw the Team Bitmap being adjudged as the winner in the student category – Working on the idea of geographical monitoring of adverse drug reactions and company wise analysis based on social network data stream they showed the future of solutions on healthcare delivery.

Traceback the runner up in student’s category developed an idea on artificial Intelligence and came up with a project that  can revolutionize data modelling and prediction. The team used artificial intelligence in the geospatio-temporal prediction of the spread of diseases: building a data modelling tool kit that takes a hybrid approach to train the model that uses both data from previous years and non-conventional data sources such as social media, newspapers.

Winner

Student category : Winner – bitMAP, Runner-up – Traceback

Professional category : Winner – NTT Hackers, Runner-ups – BangOn Hackathon and Thea

About Mylan

Mylan is a global pharmaceutical company committed to setting new standards in healthcare. Working together around the world to provide 7 billion people access to high quality medicine, they innovate to satisfy unmet needs; make reliability and service excellence a habit; do what’s right, not what’s easy; and impact the future through passionate global leadership. For more information, please visit Mylan

|In: e-commerce|Last Updated: | 2 Comments

A friend of mine owns a mid-sized supermarket in Bengaluru and one fine day, I got a ping from her on WhatsApp. She required a small help from me – She wanted to transfer Rs. 10K that her vendor had deposited into her Paytm account to her savings account. Well, she could have done it herself but due to the Rs. 10K limit in Paytm Wallet, she had to take this route. Doesn’t this sound very familiar 🙂 Gone are the days when we were required to carry huge amount of cash since “Digital” payments has completely taken over the usage of plastic money.

Be it transport service, shopping, ordering groceries, payment of fees etc. there is no Vertical that is left un-touched by Digital payments. Things are getting better with the current government’s push in making India a “Digital India”. The Union Budget 2016 stressed upon Digital literacy even for rural households which is great news for Digital startups. When we discuss about Digital, one sector that needs to have a huge mention is “e-commerce” or “Online Shopping”. With the advent of e-commerce, offline shopping slowly & steadily moved online and sites like Flipkart, Amazon, Snapdeal, Shopclues etc. became the new-age shopping destinations.

Customers are lured to these sites primarily due to the “Heavy discounting model” followed by most of these companies in order to gain significant market share. Leading e-commerce companies created the “Discount Economy”. The usage of credit cards increased considerably and next innings in the online commerce commenced with “Digital Wallets” [Closed & Semi-Closed wallets] where Paytm, Freecharge, Mobikwik etc. provided the facility where customer can store money in their digital wallet. Apart from the deals, discounts & coupons in the online shopping world, one thing that has been disruptive in the recent times is the extra cashback offering on top of your shopping bill.

The “Consumption Economy” has now transformed into “Cashback Economy” where along with discounts, customers also get cashbacks [similar to cashback’s offered by many credit cards] and the money is stored in their “digital wallet”. With the rise of online commerce and cashbacks, new spring of startups emerged that operated in the space of Cashback, Price Comparison and Couponing. Some of these sites also offered cashback when user performs mundane tasks e.g. Installation of UC Browser on Android phone, keep for 10 days and user gets Rs. XXX in their wallet. This money can be later used for mobile/DTH recharge or for online shopping.

Cashback on purchase coupled with Cashback on performing tasks is a formidable combination. Dealsnprice is a startup that is passionate about offering cash backs on your online shopping across e-commerce players and finding Coupons that suit your requirements. They operate with the motto – Spend Less, Save More. It is a very handy option when you have made the decision to buy a particular product but you are still in search for the “Best Deal” 🙂 Dealsnprice aggregates products from sites like Flipkart, Myntra, Snapdeal, Jabong & many more.

Though there are so many Cashback & Deal websites, this startup has a differentiating factor – Other deal sites list only a handful number of deals or coupons whereas Dealsnprice adds New deals & Coupons to it’s database every 15 minutes. To stay true to it’s mantra, this startup passes the major portion of its commission which they receive from generating sales for their e-commerce partners to it’s customers. This means that you not only get your favourite product at the “Best Price” but also get “significant cashback” with every purchase.

If that’s not all, Dealsnprice also rewards it’s users for performing tasks [some of which were mentioned earlier] on their Android application. You can use those reward points for recharge etc. In a nutshell, cashback and coupon websites are an icing on the cake since they spoil customers by pushing them to spend more so that they can save more 🙂

[Image Credit* – AVBob]

|In: startups|Last Updated: | 0 Comments

Zeta, the newest portfolio company of the Directi group, has launched Zeta Meal Vouchers, first mobile-based meal voucher application (app) which can be used by employees across any outlet for purchasing food and non-alcoholic beverages.

Zeta is a mobile-based meal voucher platform that provides HR Managers a simple desktop interface that can be used to initiate transfer of meal vouchers to hundreds of employees at one go. Zeta Meal Vouchers can be used by employees across any outlet irrespective of whether the outlet is a Zeta affiliated partner or not.

It promises to give the world groundbreaking offerings and tech solutions that would change the face of commerce. Completely digital in nature, Zeta believes in making commerce more inclusive and relaying its benefits to more and more people across the country.

Zeta meal vouchers are an essential tax saving solution in India that is fully compliant with Income Tax and RBI laws as prescribed under the new RBI norms.

With Zeta, HR Managers can easily distribute vouchers digitally to employees without wasting time or resources. This product is highly recommended for the HR community because they are smartphone-based meal vouchers which open up a range of possibilities that are unknown to paper-based vouchers till now. The most beneficial aspect for any HR personnel is that the hassle behind transfer, distribution and logistics of paper meal vouchers across different location that completely disappears with digital meal vouchers. Just a click on the computer and all the employees across locations receive their meal vouchers on the date scheduled.

A crucial responsibility of any HR manager is lending a thought to the compliance of your compensation and benefits tool. This aspect is well addressed by Zeta. It is the only 100% compliant meal voucher system in India today. It meets all RBI and IT guidelines. Many may not know, bank meal cards are not compliant with IT norms and paper vouchers have been rendered non-compliant by new RBI rules.

For employees, this digital meal voucher system is a cool new way of tax saving. They do not have to collect and carry around bulky paper vouchers and remember to take them while stepping out for shopping. Zeta Meal Vouchers are always available on their smartphones. It’s possibly the easiest way to ensure a 30% tax saving on every food bill.

Zeta Meal Vouchers are also equipped with many other features that make it even more convenient for users. The app has a location-sensitive merchant directory that helps users locate outlets in the vicinity. The app also eliminates transaction hassles caused by rigid denominations in paper-based solutions, thereby allowing employees to pay odd amounts without worrying about change. All-in-all it is the most convenient meal voucher solution in the market today.

The Zeta app is supported on Android, Windows & iOS platforms currently. To know more on how Zeta Meal Vouchers work, click here

About Zeta

Zeta is the newest portfolio company of the Directi Group. It promises to give the world ground breaking offerings and tech solutions that would change the face of commerce. Completely digital in nature, Zeta believes in making commerce more inclusive and accessible to more and more people. Zeta is co-founded by Bhavin Turakhia, the CEO and co-founder of the Directi Group and Ramki Gaddipati, who is also the CTO of this tech-driven company. To know more, log on to www.zeta.in

|In: startups|Last Updated: | 0 Comments

TSLC Pte Ltd., a fin-tech company promoted by serial entrepreneur and private equity investor V. Raman Kumar, has announced the launch of its all new mobile-only lending platform – CASHe, providing users a personalised experience to borrow cash any-time, anywhere within minutes.  CASHe is Raman Kumar’s most ambitious tech venture that redefines credit in a smart, social world.

CASHe was launched in Mumbai at a glittering ceremony today with Bollywood’s rising star Arjun Kapoor unveiling the product. He was joined by CASHe’s eminent Board of Advisors comprising Dr. Rakesh Mohan, Former Deputy Governor of RBI and Director IMF, Suhel Seth, well known marketing guru and media personality and Yezdi Lashkari, tech thought leader.

[Image Source – Facebook]

V. Raman Kumar, Chairman of TSLC Pte Ltd. said

CASHe is the ideal platform for consumers to take control of their short term finances. Today’s young professionals have different aspirations and needs not very well addressed by the present banking system. We are simplifying their borrowing experience with CASHe. With this new smart phone platform we will be providing immediate cash loans based on their social profile, merit and earning potential using our proprietary algorithms and machine learning. All loans through CASHe will be disbursed by One Capitall Ltd. An RBI- registered NBFC.

CASHe uses sophisticated proprietary technology that mines the borrowers’ social network and requests basic documentation to arrive at a “Social Loan Quotient” [SLQ] and a loan eligibility amount. Using multiple unique data points to arrive at a distinct credit profile for the customer, CASHe will transform traditional credit measurements, providing financial inclusion to underserved young professionals who are kept out by traditional credit rating and banking systems.

By providing basic information on a smart phone, professionals can avail of – within minutes – a convenient 15-day loan for a one-time processing fee with no other hidden costs, no painful paper work and no human interaction. CASHe’s target clients are young professionals between 20-35 years old. Upon confirming eligibility, these employed individuals can avail of a loan of up to 40% of their monthly income instantaneously at a rate of interest on par with credit cards.

Film star, Arjun Kapoor stated

Today’s generation believes in instant gratification. If I have to speak on behalf of the generation I represent then I would say our fundamental belief in life is to work hard but party harder and at most instances we run out of resources to cater to our fast paced lifestyles. Saving money is more important to my parent’s generation than it is to my generation. CASHe will be the go-to app to raise immediate and efficient money. CASHe is a great way to ensure financial independence and responsibility at the same time. I am delighted to be associated with CASHe.

About CASHe

CASHe, a fin-tech product from TSLC Pte Ltd., is as unique as the young professionals it serves. In a smart digital world, CASHe offers millennials quick and easy personal loans through processes that are transparent, innovative and tuned to the times. CASHe utilises sophisticated algorithms and machine learning capabilities to deliver an amazing and improved lending experience to our customers, thereby helping young professionals achieve their financial goals effortlessly. CASHe is India’s only cash giving app that offers instant transfer of funds for approved applicants. An initiative established by a visionary founder whose last venture was valued at over a billion dollars, CASHe is brought to you by a team known as much for its expertise and experience in technology, banking, AI and big data analytics as it is for its past entrepreneurial success. For more information, please visit CASHe

[Image Source* – Cashe]

|In: Mobile|Last Updated: | 0 Comments

Intel Security have released its McAfee Labs Threats Report: March 2016, which assesses the attitudes of 500 cyber-security professionals toward Cyber Threat Intelligence [CTI] sharing, examines the inner workings of the Adwind Remote Administration Tool [RAT], and details surges in ransom-ware, mobile malware and overall malware in Q4 2015.

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In 2015, Intel Security interviewed 500 security professionals in a wide variety of industries across North America, Asia Pacific and Europe to gauge awareness of CTI, its perceived value in enterprise security and which factors may stand in the way of greater implementation of CTI into security strategies. Respondents provided a valuable illustration of the present state of and potential opportunities for CTI in the enterprise:

  • Value perception and adoption – Of the 42 percent of respondents who report using shared threat intelligence, 97 percent believe that it enables them to provide better protection for their company. Of those participating respondents, 59 percent find such sharing to be “very valuable” to their organizations, while 38 percent find sharing to be “somewhat valuable”.
  • Industry-specific intelligence – A near unanimous 91 percent of respondents voice interest in industry-specific cyber threat intelligence, with 54 percent responding “very interested” and 37 percent responding “somewhat interested.” Sectors such as financial services and critical infrastructure stand to benefit most from such industry-specific CTI given the highly specialized nature of threats McAfee Labs has monitored in these two mission-critical industries.
  • Willingness to share – Sixty-three percent of respondents indicate they may be willing to go beyond just receiving shared CTI to actually contributing their own data, as long as it can be shared within a secure and private platform. However, the idea of sharing their own information is met with varying degrees of enthusiasm, with 24 percent responding they are “very likely” to share while 39 percent are “somewhat likely” to share.
  • Types of data to share – When asked what types of threat data they are willing to share, respondents say behavior of Malware [72 percent], followed by URL reputations [58 percent], external IP address reputations [54 percent], certificate reputations [43 percent] & file reputations [37 percent].
  • Barriers to CTI – When asked why they have not implemented shared CTI in their enterprises, 54 percent of respondents identify corporate policy as the reason, followed by industry regulations [24 percent]. The remainder of respondents whose organizations do not share data report being interested but need more information [24 percent], or are concerned shared data would be linked back to their firms or themselves as individuals [21 percent]. These findings suggest a lack of experience with, or knowledge of, the varieties of CTI integration options available to the industry, as well as a lack of understanding of the legal implications of sharing CTI.

McAfee Labs Threats Report (March 2016) also assesses the Adwind Remote Administration Tool [RAT], a Java -based backdoor Trojan that targets various platforms supporting Java files. Adwind is typically propagated through spam campaigns that employ malware-laden email attachments, compromised web pages and drive-by downloads. The McAfee Labs Report depicts a rapid increase in the number of .jar file samples identified by McAfee Labs researchers as Adwind, with 7,295 in Q4 2015, a leap of 426 percent from 1,388 in Q1 2015.

Q4 2015 Threat Statistics

  • Ransomware accelerates again – After slowing slightly midyear, new ransom-ware regained its rapid growth rate, with a 26 percent quarter-over-quarter increase in Q4 2015. Open-source ransom-ware code and ransom-ware-as-a-service continue to make it simpler to launch attacks, the Teslacrypt and CryptoWall 3 campaigns continue to extend their reach, and ransom-ware campaigns continue to be financially lucrative. An October 2015 analysis of the CryptoWall 3 ransom-ware hinted at the financial scale of such campaigns, when McAfee Labs researchers linked just one campaign’s operations to $325 million in victim ransom payments.
  • Mobile malware jumps – The fourth quarter of 2015 saw a 72 percent quarter-over-quarter increase in new mobile malware samples, as malware authors appear to have produced new malware faster.
  • Rootkit malware collapses – The number of new rootkit malware samples dropped precipitously in Q4, continuing a long-term downward trend in this type of attack. McAfee Labs attributes some of this decline, which began in Q3 2011, to ongoing customer adoption of 64-bit Intel processors coupled with 64-bit Microsoft Windows. These technologies include such features as Kernel Patch Protection and Secure Boot, which together help better protect against threats such as rootkit malware.
  • Malware rebounds – After three quarters of decline, the total number of new malware samples resumed its ascent in Q4, with 42 million new malicious hashes discovered, 10 percent more than in Q3 and the second highest count ever recorded by McAfee Labs. In part, the growth in Q4 was driven by 2.3 million new mobile malware samples or one million more than in Q3.
  • Malicious signed binaries decline – The number of new malicious signed binaries has dropped each quarter for the past year, in Q4 2015 reaching the lowest level since Q2 2013. McAfee Labs believes the decline can be attributed in part to older certificates with significant presence in the dark market are either expiring or being revoked as businesses migrate to stronger hashing functions. Also, technologies such as Smart Screen represent additional tests of trust which might make the signing of malicious binaries less beneficial to malware authors.

For more information on these focus topics or more threat landscape statistics, Please visit March2016ThreatsReport for the full report. For online safety tips on how consumers can protect themselves from the threats mentioned in this report, visit Consumer Safety Tips Blog.

|In: Mobile|Last Updated: | 0 Comments

Spice Mudra, a prepaid payment wallet developed by Spice Digital – subsidiary of SpiceConnect, witnessed transactions worth Rs. 600 Crores in only 6 months, since its launch in October, 2015. Spice Mudra has extended its presence in 16 states from existing 8, with retail partners increased from 4,000 to 10,000.

The remittance service had earlier registered Rs. 200 crores in 100 days. The wallet service with a strong focus on domestic remittances and enterprise payments has recorded transactions worth Rs. 400 crores in the last 90 days.

Spice Digital has launched NPCI approved Spice Mudra Retailers App for retail partners, to help ease of doing business without the need of computer, 24*7. Many retailers were unable to transact after closing the shop and on weekends, Mobile app is coming handy and allowing them to carry on business even when not at shop. The Company has seen significant traction already with 10% of the total daily transactions though its retailers app.

On reaching this milestone, Saket Agarwal, Global CEO, Spice Digital said

We initially aimed to cross Rs. 600 crore by June, 2016 but having completed transaction worth Rs. 600 crore in mere 190 days stands testimony to excellent response from the market for our mobile wallet Spice Mudra. Spice Digital aims to expand network to reach over 20,000 retail partners by September 2016. Spice Digital is committed to serving the under-served rural population in the country and we are confident that through our wide merchant network, we can provide remarkable solutions to customers and contribute towards the digital economy vision of the Government of India.

Spice Digital Limited is rolling out innovative loyalty program for Spice Mudra customers. Under the same, they also plan to cover all KYC customers for Rs. 1 Lac accidental death & disability insurance cover for every month of usage. The roll-out would happen from first week of April 2016. The unique policy shall cover unforeseen accidental death and disability from the next calendar month of usage. The policy will be activated through mobile registration process, similar to the registration of transferring money remittances. It has chosen to provide this cover basis an internal study which has showcased that the Accidental Risk cover is one of the most ignored but often needful insurance component for this segment.

The company received the wallet authorization from RBI for issuance and operations of semi-closed prepaid payments instrument in April, 2015 and successfully expanded its reach across India.  Positioned as a mobile wallet for the under-served Bharat, Spice Mudra facilitates domestic money transfers and all kinds of utility services payments like bill payments, recharge and railway ticketing services. In line with the Indian Government’s vision of a less cash economy, the service focuses on the large and untapped domestic remittance market providing a safe and convenient mode of money transfer to the increasing migrant population in the cities.

Spice Mudra leverages the best of industry technology infrastructure, powered by a platform designed and developed by Spice Digital’s own R&D division using the latest J2EE technology that offers users a swift response, enabling a transaction to be completed within just 25 seconds. For safer transactions, the Spice Mudra wallet has an in-house enterprise messaging gateway for OTP and alert deliveries as per specified banking standards and automated workflow approval process for digitized KYC documents. The wallet also offers dedicated customer service and a 24*7 customer grievance cell that provides tech support structure with the best ITIL practices powered by Spice Network operations center.

About Spice Digital

Spice Digital Ltd was founded in the year 2000 and is part of the Noida based Spice Connect Group. Spice Digital is engaged actively in the field of VAS, Enterprise, Technology Solutions, Mobile Advertising and Retail. With its presence in over 30 countries, Spice Digital has its headquarters in Noida, India. It has partnered with leading telecom operators in India and more than 40 telecom operators globally for mobile VAS solutions. Spice Digital also has exclusive tie ups with Government organizations and Enterprises to provide mobile solutions. In its retail channel, it has a footprint of over 8000 retail touch points offering various services such as ticketing, shopping and money transfers to end customers. For more information, please visit Spice Digital