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The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.

January - 2012 - issue > 10 most promising mobile App companies

atom technologies: Enabling the Users with Cashless Transaction

ST Team
Monday, January 2, 2012
ST Team
The mobile market in India has seen a tremendous increase in the last few years. Be it consumers or businesses, mobiles have become an integral part of everyone’s lives. But one segment where mobile has stirred quite a revolution is in payments segment. From paying utility bills to booking tickets to bank transactions, mobile has made huge impact. Though the adoption of mobile as a payment platform has just begun, this is expected to grow into billion dollar market. And seizing this opportunity since early 2006 is Mumbai headquartered atom technologies.

Founded by Dewang Neralla, atom technologies, offers a bouquet of products and services enabling businesses and individuals to transact in a user friendly manner with utmost convenience, speed and security. With an aims to create an automated payment ecosystem which is designed to allow transaction from anywhere at anytime the company is focused on distribution of payment and banking services through mobile as a platform and has created patent pending products and services for mobile and IVR based payments.

“There are over 800 million mobile users in the country, of which only 3-4 percent has access to credit cards or net banking solutions. The majority still use the conventional payments methods. By enabling mobile as the alternate payment gateway, we aim to make every transaction a cashless transaction in the coming years,” says Neralla. Keeping in mind the fact that their solution should be of mass appeal, the company has created its solutions that are based on IVR and SMS.

The company’s mobile payments solutions uses a simple Java/J2ME based application that enables consumers to use to pay for products and services using debit or credit card through a mobile phone. The fact that the company has a vast network of banks working with it ensures that it is a hassle free situation for both consumers and merchants. Through IVR, atom enables payments over a phone call. Also, the company has developed a special platform called atom SEWA which is microfinance banking platform and enables banks and microfinance institutions to offer on-the-spot cash transactions to the rural masses.

All of atom’s payment platforms have been accredited for PCIDSS and PA_DSS certifications, which are accepted by the banking industry, hence enforcing trust amongst users.

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