“Making people pay via mobile is a global challenge”, RaviJagannathan, eMudhra

Ravi Jagannathan, a Fellow Member of the Institute of Chartered Accountants of India, has 25 years of global experience in the various business verticals. He has tasted the corporate world with companies likeUBICS, ICICI Infotech and 3i Infotech where he held high posts and looked after global functions.In 2008, Ravi moved to India and founded eMudhra Consumer Services Limited along with Mr. V. Srinivasan and Ms. KalaivaniChittaranjan. eMudhra first started out with Taxsmile which allows individuals easy tax management. After Taxsmile,eMudhra came up with Digital Signature Certificates- an electronic signature used to authenticate the identity of the sender of a message or the signer of a document.

After the success of these two, Ravi wanted to enter the mobile space. “Having had a chance to work with global companies, I had a feel of these international trends. Mobile is the way forward for India”, says Ravi. And this statement is supported by a recent TOI report which states that, “More people in India have mobiles as opposed to access to a bathroom!”

As a first step in this direction, SecMsg was started, a solution that offers a secure SMS communication platform and ensures security of sensitive data in cell phones. For example, messages sent by an ATM to a customer or messages sent by banks to a customer. To elaborate on the example, banks currently use the snail mail to deliver the PIN or other sensitive data but with SecMsg, this can be done securely via mobile.

YPayCash is an offering which aims to revolutionize the mobile payment system. In a recent article, we covered why should electronic payments be encouraged? My talk with Ravi outlined these points and also threw light on some other important factors. “Efforts have been made in the field of mobile payments but all had dependencies. YPayCash is unique in that regard as it uses only mobile architecture”, says Ravi.

YPayCash offers a mobile wallet and is pushing it to the customers. “Mobile payment is a global challenge. People haven’t adopted the technology as expected but it’s only time before it is necessitated”,says Ravi. YPayCash launched their app, Xygle, in Bangalore last week. This application offers a brochure which lists more than 200 items currently and users can purchase directly via their mobile. Xygle has been downloaded more than 3000 times over the week and the company forecasts 100-150 thousand downloads in the next four to six months.

More information about eMudhra is available here and you can check out the details to get yourself a mobile wallet, here.