An agreement between First Global Data and India's Metro Infrasys will bring a one-click mobile payment option to drivers using the country's tollways.
First Global's Indian unit, MSEWA Software Solution, will provide the software in the Metro's Highway Saathi mobile payment app.
"There are so many verticals where mobile payments is apropos and toll fee transactions are just another example of how First Global is innovating and revolutionizing the digital divide as it relates to fintech," Andre Itwaru, chairman and CEO of First Global, said in a Dec. 29 press release. "We will continue to tap into other verticals to take full advantage of the consumer sentiment shift to all things digital."
That shift has recently accelerated in India, where the prime minister called for a stoppage of high-denomination cash notes in the country earlier this month as a crime fighting measure. Since then, the major card brands and various payments providers and hardware manufacturers have focused more on providing cashless options to Indian consumers.
VPayQwik is the mobile payment option that Toronto-based First Global had previously launched with Vijaya Bank. Through the new arrangement, First Global shares revenue from each automobile using the app with Metro Infrasys and Vijaya Bank.
Highway Saathi operates as an integrated platform for multi-bank, multi-wallet transactions for tollway charges, allowing motorists to pay a toll through a click of a button. The driver does not have to stop to use the app each time to get through the toll, as the app keeps track of payments due.
The software also provides travelers with real-time information about highway accidents and traffic congestion, as well as reminders about speed limits and locations of gas stations, food courts and hospitals.