The second largest private sector lender in the country, HDFC Bank has formed a consortium with Movida to offer mobile banking services to its customers. Movida is joint venture of Visa and Monitise. Movida's President and head of the Monitise and Visa joint venture in India, Mr. Naushad Contractor said, "This is a service designed for Indians. As we rollout the service to other banks more Indians will be able to benefit from mobile payments."
He also said, "This service is going to drastically reduce the time and energy Indians waste every day waiting to pay bills."The facility will be offered at all the mobile networks and can be accessed with most basic hand sets. The facility will enable the customers of the bank to make bill payments and to buy tickets. Several other facilities will also be offered with this service.