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9, December 2006 Pragati Maidan, New Delhi.
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Retail giants like The Future Group and Reliance Retail are in talks with technology firms to devise solutions whereby consumers do not have to queue up to pay for shopping. Instead of cash and credit cards, mobile phones will take care of the payments. Retail stores dealing in groceries or super and hypermarkets have brought about a complete new shopping experience, but payment queues create a bottleneck, as well as, an unpleasant experience for shoppers. Certain technology firms have developed solutions based on radio frequency identification system (RFID), which would be offered to retailers shortly, industry sources said. Such firms are now in talks with mobile operators, retailers and banks for possible tie-ups. The system identifies the product purchased and its price. Consumers can simply shop and walk out of retail stores. They would then receive a call on the mobile, which would tally their purchases and bill amount, and request a confirmation by entering a unique personal identification number (PIN). After this, the payment would be automatically debited from their bank accounts, which would be connected to the mobile operators’ network. The technology can even help parents keep a tab on spending habits of their teenage children through mobile phones. Children would be able to shop without cash, while mobile phones would inform their parents about billing and payments. According to industry sources, the services would be commissioned shortly. Vodafone CEO Arun Sarin had said at a press conference in the Capital last week that Vodafone, which has acquired Hutch Essar, would bring in innovative services in the country, which would offer consumers much more than what’s on offer today.
Date: 20-Mar-2007
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