DCB Bank has launched a new mobile payment enabler, Mowa, in association with iKaaz, a software company working in the mobile banking realm. The new app facilitates consumers and merchants to make and receive payments by enabling sending money using the mobile to any phone number without sharing private bank account details of sender or receiver. The app supports all banks in India and is available free of cost. Users can avail the facility by registering with mobile number, name and date of birth. One must then attach the credit or the debit card as a payment medium and start making payments by entering mobile number of receiver. The money is debited from the payer’s card only at the time of the transaction and deposited directly in to the receiver’s bank account. People can also request for money and if accepted and paid, the amount gets deposited into the bank seamlessly.
