Yes Bank introduces m-payments service in partnership with Obopay

Indian largest financial institution Yes Bank announced about the launch of a new mobile payment service 'Pay Anyone' to allow mobile users to make money transfers to other banks. The service was developed in association with Obopay.

"Pay Anyone service, which will be launched during next couple of months, will permit our customers to make payment to account holder of any other bank through their mobile phones. Moreover, this new service will offer a host of other services such as ticket booking, mobile top up, flower delivery etc," said Yes Bank, Country Head (Direct Marketing) Ravishankar.

Previously the bank introduced a mobile payment solution known as Person to Person. The service allows customers to send money in real time only to the bank customers registered through Obopay. Currently there are about 5,000 customers of Yes Bank who use its mobile payment services across India.

At the moment there are 250 million account holders of banks in India and 300 million mobile users.

"The figure of 300 million users offers us a huge opportunity to capitalize on mobile banking solutions and Pay Anyone is part of our initiative to offer new services to our customers," he said.