Bharti Airtel Selects Infosys As Its Technology Partner For 'airtel money'
Infosys WalletEdge™ to manage the mobile wallet service of Bharti Airtel
- Agreement to jointly create an inspiring business model for mCommerce
- Initiative to offer customers a secure environment to make payments and transfer money across the country through 'airtel money'
Bangalore, India - February 27, 2012: Bharti Airtel, a leading integrated telecommunications company with operations in 19 countries across Asia and Africa, has chosen Infosys, a global leader in consulting & technology, as its partner for 'airtel money' - the country's first of its kind mobile wallet service by a mobile operator. Under this partnership, Infosys WalletEdge™ - the mobile commerce platform will enable the ubiquitous mobile wallet service to support cashless payments & settlements needs of diverse customer segments.
Finacle™ Digital Commerce is at the core of this platform. It facilitates the creation of a unique ecosystem of card issuers, merchants, financial and retail institutions to offer customers a wide spectrum of payment options for their transactions. The platform will enable 'airtel money' customers to pay bills, recharge accounts, shop at over 7000+ merchant outlets, transact online through multiple channels including mobile phones, Interactive Voice Response, ATMs and Point of Sale.
Infosys WalletEdge™ is also a highly scalable platform capable of supporting millions of transactions annually in a secure environment. Delivered through a private Cloud, it creates a comprehensive shared services framework that allows members of the ecosystem to process payment instructions seamlessly and cost efficiently.
Sanjay Kapoor, CEO - India & South Asia, Bharti Airtel said, "Airtel turned another leaf in its journey towards enriching lives of millions of our customers, with the launch of airtel money across India. We believe that airtel money - that empowers the customer with the convenience of instant money transfer, will play a pivotal role towards driving the goal of financial Inclusion in the country. Clearly, an offering like this needs to be built on an extremely robust and secure technology platform, hence Infosys was a natural choice given their strong technical capabilities and credentials, especially in the financial sector. We are confident that together we will offer a compelling proposition for our customers for them to accept airtel money - as a way of life."
V. Balakrishnan Member of the Board, Infosys said, "At Infosys, we partner with our clients to build tomorrow's enterprise through business model innovation that drives growth and revenue opportunities. The game-changing mobile commerce platform, from Infosys, will empower millions of 'airtel money' customers to make cashless payments and settlements. It will also unleash new market opportunities for Bharti Airtel in the digital commerce space."
About Bharti Airtel Limited
Bharti Airtel Limited is a leading integrated telecommunications company with operations in 19 countries across Asia and Africa. Headquartered in New Delhi, India the company ranks amongst the top 5 mobile service providers globally in terms of subscribers. In India, the company's product offerings include 2G & 3G mobile services, fixed line, high speed broadband through DSL, IPTV, DTH, enterprise services including national & international long distance services to carriers. In the rest of the geographies, it offers 2G & 3G mobile services. Bharti Airtel had over 244 million customers across its operations at the end of January 2012. To know more please visit, www.airtel.com
Many of the world's most successful organizations rely on the 145,000 people of Infosys to deliver measurable business value. Infosys provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries build tomorrow's enterprise. For more information about Infosys (NASDAQ: INFY), visit www.infosys.com
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2011 and on Form 6-K for the quarters ended September 30, 2011 and December 31, 2011.These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.