MUMBAI, INDIA: My Mobile Payments Ltd (MMPL), a mobile payment service provider today announced the launch of ‘Money-on-Mobile’ (MOM) - an M-Wallet service for Indian consumers.

The service allows mobile phone subscribers to purchase a wide range of goods and services through the mobile instead of paying by cash, cheque, debit or credit cards.

With the M-Wallet, consumers can load their mobile phones with cash of various denominations, minimum being Rs.20 at retail touch points. This virtual balance can be used to top-up any prepaid mobile and DTH recharge, pay postpaid mobile and utility bills such as electricity, gas and buy airline, bus and movie tickets.

This mobile payment platform works independent of the consumer’s mobile operator or bank and hence any mobile subscriber can avail of its services through the SMS or mobile application-based platform.