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Novel mobile payment service system launched

Special Correspondent

KOCHI: UAE Exchange and Financial Services Limited, India, a non-banking financial services company based in Kochi, has introduced Xpay, a novel payment service system, by means of a mobile phone. The system enables the customer to purchase commodities or to pay bills through a simple process using the mobile phone.

Country Head of the company V. George Antony said the customer could register for the Xpay services by paying Rs.200 and remit any amount between Rs.50 to Rs.50,000. The amount would be deposited in a special account of the company to be utilised for transactions through cell phones. The mobile mode of transaction would be available for payments at commercial centres which had joined the system.

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