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m-Commerce by ICICI Bank + Reliance Communications

September 5th, 2007

m-Commerce in India will be a reality this year. Reliance Communications and ICICI Bank have tested mobile money transfer and other value added m-commerce initiatives. The service will go mobile anytime within the next couple of days, said sources.

The new service will enable ICICI Bank customers to transfer funds to other account holders registered with the financial institutions website. A customer of the bank can transfer up to Rs 5,000 per transaction, using Reliance Communications’ pre- and post-paid services.

According to Mobile India, Bharti Airtel with its 42 million subscriber base has kicked off mobile bill pay, a testing project for Bharti’s m-commerce initiative. However, this time Reliance Communications has taken the lead by beating Bharti Airtel and Tata Indicom who were competing for Mobile Advertising, Local Radio and SMS 2.0. Rcom has 37 million subscribers and has lined up host of m-commerce offerings.

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