mChek

The Mobile Opportunity for Banks

• Increased Card Penetration
  • With over 400 million mobile connections, there is a huge card distribution opportunity that can be tapped using mChek


• Increased Card Usage
  • There is tremendous convenience associated with mobile bill payment. This has the potential to increase debit and credit card usage for the bill payment industry.


• Access to a ready merchant base
  • With mChek, the bank gets access to every merchant signed up on mChek and its consumer base can transact instantaneously on it.
  • mChek additionally has proved as a crucial tool in the merchant pitch document for our partner banks to acquire merchants, currently using competition MID’s


• New Accounts & Rural Banking
  • Mobile Banking will go beyond being an alternate channel. mChek enables the mobile to become the primary channel to bank a large portion of rural India.
  • The SIM will act as the consumers bank interface where they can check their balance, make payments and transfer money, thus drastically lowering the cost of servicing the rural consumer.
  • Visa recognizes this opportunity and works closely with banks & mChek to promote mobile payments with mChek.

The Key attributes of the mChek payment solution are:

1. Secure
   • Card information never shared with Merchant (unlike in the case of physical plastic)
   • Two factor authentication: Requires mobile phone to be present and 6 digit pin for a transaction.
   • mChekPIN is not sent over SMS.
   • Uses industry standard 3DES 128 bit encryption.
   • First Company in the World to get PCI DSS 1.2 certification.
   • ISO 27001 certified.
   • VISA Approved.
2. Simple
   • User friendly interactive interface.
3. Versatile
   • Works on ALL mobile phones (no GPRS required).
   • All VISA and MASTERCARD credit cards accepted.

• Visa: mChek is the only solution in the world to be approved for Card Present remote transactions. We have a very close working relationship with Visa to bring this solution to the market on a commercial scale.
• HDFC Bank / ICICI Bank / Standard Chartered Bank & Corporation bank: mChek has associated with HDFC Bank, ICICI Bank and Standard Chartered Bank to provide Visa debit cards on the mChek platform. This service will be extended to Corporation Bank imminently.
• Airtel: Airtel is our lead partner and every new Airtel SIM has mChek pre-deployed on it.
• Tata DoCoMo/Indicom: We have extended the pre-deployed SIM solution to Tata DoCoMo users too.

Payment instruments accepted on mChek

1. Any Visa or MasterCard Credit Card issued in India.
2. Mobile Cards issued by banks (Debit or Credit)
3. Prepaid instruments

To know more, please write to: This e-mail address is being protected from spambots, you need JavaScript enabled to view it .