BWI: FT-group’s Atom Technologies to Facilitate Online Payments to Reliance Securities using Visa Debit Card

Press release from Business Wire India
Source: Visa
Monday, April 23, 2012 12:50 PM IST (07:20 AM GMT)
Editors: General: Consumer interest, People; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Information technology, Major diversified industrial groups, Stock exchanges
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FT-group's Atom Technologies to Facilitate Online Payments to Reliance Securities using Visa Debit Card
First-of-its kind partnership between atom, Visa and Reliance Securities will benefit over 1 million customers

Mumbai, Maharashtra, India, Monday, April 23, 2012 -- (Business Wire India) -- In a unique partnership of its kind, India's top payments service provider Financial Technologies-promoted atom technologies, Visa and Reliance group's Reliance Securities have come together to enable 1 million customers of Reliance Securities to make online money transfers to their broking accounts through atom's payment solutions, using any Visa Debit card.

This service is the first-of-its kind in India as customers can now just log on to the website of Reliance Securities and click on the "pay through Visa Debit card option' to make online payments to their broking account. This service requires the trader to register his Visa Debit card once on the Reliance Securities website, enabling him to make secure payments using his Visa Debit card in real time.

Elaborating on this tie-up, Mr. Uttam Nayak, Group Country Manager, India and South Asia, Visa, said, "Indian consumers value and have come to expect a versatile and universal method for making and receiving payments through their cards. Visa has constantly demonstrated leadership in responding to the consumer needs and our recent tie-up with Reliance Securities and atom technologies is another testimony of that. From today millions of investors can pay for their stock and commodity investments with the same convenience, security and reliability that they experience when they use Visa anywhere else. And that is the advantage Visa brings in."

Mr. Dewang Neralla, Director & CEO, atom technologies, added, "This is another path-breaking innovation in payments. I am sure acceptance of Debit cards will enable brokers to tap India's vast Debit card subscriber base and investors from the recesses of India for partaking in financial market activities, thus paving way for financial inclusion.

Reliance Securities constantly is looking for opportunities to change the way investors transact in equities. To enable increased access to its online services, Reliance Securities has partnered with Visa and atom to provide this innovative solution for its customers.

Mr. Vikrant Gugnani, Executive Director, Reliance Securities Limited, said, "The tie-up will enable customers to directly transfer money to their brokers for facilitating securities trades through Debit Cards over atom's platforms. The money can be transferred from the registered Visa Debit cards of the customers by using the payment facility provided by atom."

About Visa Inc.:

Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world's most advanced processing networks-VisaNet-that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with Debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.

About Reliance Securities:

Reliance Securities Limited is the Equity Broking arm of Reliance Capital Company and part of the Reliance Anil Dhirubhai Ambani Group. It endeavours to change the way investors transact in equity, Derivatives and Currency Derivatives market and avails services. It offers a secured online share-trading platform and provides investment activities in secure, cost effective and convenient manner. To enable wider participation, it also provides the convenience of trading offline through variety of means, including Call & Trade, Branch dealing Desk and its network of affiliates.

About atom technologies

atom technologies is a leading payments service provider in India providing payments solutions over Internet, IVR and mobile. It is a digital, retail initiative of the Financial Technologies Group, a group that has pioneered creation of digital marketplaces and technology solutions for the financial markets. As a payments service provider, atom, through innovative use of technology as created multiple "patent pending" products & services for mobile payments, mobile banking for the un-banked, IVR based payments & mobile based service distribution framework. Till date, atom has processed millions of transactions on its platform with its client list spanning the best of associates in the industry. Recently, atom also won the prestigious 'India SME Innovation Awards-2011' for Innovative Payment Solution for SMEs.



CONTACT DETAILS
Anuja Sharma, Visa Inc., +91 9004604426, ansharma@visa.com
Preeti Hoon, Edelman India, +91 9987037821, preetihoon@edelman.com
Vaishnavi Ramakrishnan, Edelman India, +91 7738015770, vaishnavi.ramakrishnan@edelman.com
Pravin Sharma, Atom Technologies, +91 9930267672, pravin.sharma@atomtech.in
Bhaskar Banerjee, Reliance Securities, +91 9322866324, Bhaskar.S.Banerjee@relianceada.com

KEYWORDS
CONSUMER, PEOPLE, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, IT, GROUPS, STOCK EXCHANGES

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