Eroute Technologies to pilot mobile payment solutions without internet

The Reserve Bank of India (RBI) made its recent announcement about the commencement of testing under the first cohort of Regulatory Sandbox on Retail Payments by Eroute Technologies.

Digital payments, till date were to be dominated only by the internet connected smartphone users segment, will soon be available to every mobile user of our country including those using a non-smartphone or a ‘feature’ phone. The service is made possible by implementing the patented & secured technology of SIM overlay smartcard to drive SIM Tool Kit (STK) menu-based user interface to facilitate UPI, money transfer, and merchant and bill payments. This product offers payment solutions to non-internet connected phones including feature phones which currently have 500+ million users in the country.

Eroute Technologies, a digital payment card company which is conceived by pioneers in the banking and payment industry with a goal to redefine spending experiences for the masses by creating a simple, secure and reliable platform that helps in connecting people and businesses globally.

The company has also recently received Reserve Bank of India’s in-principal authorisation to issue and operate Pre-paid Instruments under the Payments & Settlement Act, 2007 and proposes to offer cashless convenience to millions of Young and their parents with the innovative OmniCard linked to an intuitive mobile app.

Sanjeev Pandey, Co-founder & CEO Eroute Technologies said, “The unprecedented Covid-19 outbreak has made social distancing a new-normal giving impetus to online and contactless payments. Our endeavour, since the commencement of our operations in 2019, has been to build an omni-channel payment ecosystem that simplifies consumer spends and addresses the needs of the pre-banked and underserved segments of our society using our innovative technologies and designs blended with personalisation. We aim to be a leader in the card-based payment industry targeting niche market segments with one-stop spending experience to our users. We are delighted to be a part of Regulatory Sandbox’s 1st Cohort and have high praise for RBI’s initiatives to spur digital payment innovation in the country”

“Eroute is an innovation lab and our product philosophy is “YOU”. SIM Overlay smartcard empowers a large under-served population specially living in semi-urban & rural areas of our country by improving their livelihood using UPI based mobile payments. On the other hand, OmniCard solves the problem by offering solutions that matches the vibes of the 230 Million tech native youth, their lifestyle and spending experience through an intuitive Mobile App and a reliable new generation Card with spend visibility, controls and other advanced features along with savings on real-time personalized merchant offers”.