YES Bank and Taisys Technologies have forged a strategic partnership by deciding to work together on a platform to issue ultra-thin mobile banking SIM – worldwide patented technology from Taisys. This collaboration allows mobile phone users to enjoy secured fund transfer, wallet transfer, merchant payment, VAS payments across the entire segment of mobile devices including feature phones. It will be done by integrating Taisys m-Banking platform with YES Bank Money, a domestic remittance service designed to meet the remittance needs of migrants, unbanked and under-banked population in India. Anand K Bajaj, president and head, Digital Payments & Mobility of the bank, said the Taisys solution which is telco and handset agnostic, will make a huge difference. Taisys chairman Jason Ho said Taisys’ solution eliminates investment in further infrastructure for digitizing mobile banking in rural and urban India and it will drastically help accelerate the digitalization of the country. Taisys Technologies has recently set up its Indian operation and R&D center and sees great potential for growth in the Indian mobile banking market.
