RCom Inching Closer To Seal M-commerce Deal With Atom
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M-Commerce has been the buzzword off-late. The Mobi-payment companies are bringing innovations in facilitating m-commerce in India. Business Standard reports that Reliance Communication may be inching closer towards finalizing m-commerce deal with Atom technologies, a group company of Financial Technologies.
The deal seems significant for RCom as BS also reports citing company sources that the telco may very well be looking at earning revenues of Rs.800 crores in the next 3 years. The future course of plans by RCom is to provide inter-operable payment platform to facilitate various sorts of transaction on all its telecom services i.e. including GSM & CDMA.
Atom Technologies currently is in forefront for mobi-payment services revolution in India. For Telecom companies like RCom it makes sense to go for such tie-ups as enabling m-commerce on its plethora of services would help it to leverage its core strength. Atom will offer RCom multiple banks (Indian and foreign) and merchants on a common platform, thereby allowing its subscribers to make payments across all merchant bases. The tie-up would generally cover utility payment services, insurance services, movie tickets, books and periodicals, consumer goods, holiday packages, bus/train tickets and DTH TV bills.
R-ADAG group already has a significant exposure in many of these services requiring m-commerce focus. Thus striking a deal with Atom may provide it some exclusivity over other carriers. The R-ADAG group has exposures in Media & Entertainment (Big Cinemas), Telemedia services (broadband & DTH), Financial Services(Reliance Money & MFarm), Utility services (Reliance Power). The group also has its eyes set on entering the banking sector in future.
The interesting point to be noted about this deal is that both the involved parties has some sort of exposure in equity market operations in India. Financial Technologies, group company of Atom technologies runs commodity exchanges and is the largest supplier of terminal software used in Indian Stock market transactions. R-ADAG on the other side runs a retail broking business by name Reliance-Money. This deal if goes through may also see closer partnership in facilitating financial trading and other financial products purchases on mobile.
Atom technologies through such deal with telcos can cover millions of subscribers in one go as mobile revolution in India has broken all sorts of record. Mobi-payment services has also witnessed drastic changes due to thriving competition (players like Atom, M-pay, Ngpay, Paymate, Mcheck). Nevertheless m-commerce is still struggling to attain mainstream usages in India and this deal could provide shot in arm to M-commerce usage.
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IF this is the deal that is getting inked. would it in anyways have any impact on the reliance money consumers. m-commerce to rel money via rcomm an interesting amalgamation.