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Sri Lankan private sector bank NDB Bank and telco Dialog Telekom have launched mChek‘s mobile payment solution. The service allows payment of utility bills, pre-paid top-ups, mobile commerce and banking. The solution is embedded on SIM cards, and merchants with mChek enabled SIMs can turn their mobiles into “point of sale terminals and utility bill payment kiosks”. As per the release, Sri Lanka is a largely cash based market, with limited credit and debit card usage. MChek is funded by Draper Fisher Jurvetson and Rajesh Jain.
In India, mChek has tie-ups with ICICI Bank, State Bank of India, Visa and mobile operator Airtel, for utility payments. Airtel has plans to launch its services in Sri Lanka, and Bloomberg has details on the Sri Lankan market here.