As India Prime Minister Narendra Modi's announced 'Digital India Program' aimed to transform India into a digitally empowered society, Taisys Technologies declared its strategic partnership with YES BANK, India's 5th largest private sector bank and collaboration with NPCI to enter into the Indian market.
Taisys India and YES BANK will work together on a platform to issue ultra-thin mobile banking SIM - worldwide patented technology from Taisys. This collaboration allows mobile phone users to enjoy secured fund transfer, wallet transfer, merchant payment, VAS payments across the entire segment of mobile devices including feature phones. It will be done by integrating Taisys m-Banking platform with YES BANK Money, a Domestic Remittance Service designed to meet the remittance needs of migrants, unbanked and under-banked population in India.
Mr. Anand K Bajaj, President and Head Digital Payments & Mobility at YES BANK said, "We are pleased to partner with Taisys for this innovative solution which will augur positive impact into India. At a time when Apps and SIM are at a cusp and pondering at challenges of connectivity and security in the hands of masses, we believe Taisys solution which is Telco and Handset agnostic, will make a huge difference." YES BANK is a leader in Digital Payments space in India and has pioneered various payment solutions. NPCI is also collaborating with Taisys to build a common platform to provide mobile banking to all other banks.
Taisys Chairman Jason Ho states, "Our mission is digital India. Taisys' solution eliminates investment in further infrastructure for digitizing mobile banking in rural and urban India and it will drastically help accelerate the digitalization of the country!"
Taisys Technologies has recently set up its Indian operation and R&D center and sees great potential for growth in the Indian mobile banking market. Mr. Abhishek Saxena, Managing Director of Taisys India, says, "We are implementing a Wallet based Payment Solution covering a large customer base. It will facilitate seamless secured services including value added services for mobile recharge and bill payment."
Alliance between YES BANK and Taisys will deliver mobile payment services to the Indian market with 800+ million mobile subscribers. Welcoming the advent of digital transformation of India, starting from digital wallets.