How Triotech is Driving Innovations in India’s Mobile Commerce Services Space


Keeping in mind the burgeoning opportunities in the mobility driven commerce space, Triotech Solutions has developed and deployed a number of VAS and mobile commerce service delivery solutions in India.

Munish Dhingra, Co-Founder & Chief Sales Officer, Triotech Solutions speaks with Zia Askari from about the key focus for the organization and its recent partnership with BSNL and SBI.


      Munish Dhingra

What are the key focus areas for Triotech today? What is your go to market strategy?

Our key focus is in the area of VAS, mobile Commerce service delivery and applications /solutions development in the area of mHealth/Education and Financial Inclusion. We have a clear focus of delivering services to the fringe of the country and build an ecosystem in the area of mobile commerce using our own homegrown application/solution. Engaging Business Correspondent to build the ecosystem of delivering variety of mobile commerce services would be the key focus for us.

Please share some of the innovations that Triotech is bringing to the Indian market?

Health (medical) is a big challenge in urban as well as rural areas and government hospitals should be strengthened with the help of Digital India. E-Health is the solution for this digital age. In keeping with this vision, we have developed a solution called TrioHealth RPMS (Remote Patient Monitoring System), which will develop an innovative value-added mobile health service platform for patients and health professionals.

Apart from this, we have also launched TrioMoney that would help in easier, faster and smoother money remittance via mobile. TrioMoney is a customized payment solution platform which enables various financial transactions to bank and other financial institutions as per the consumer needs. We have a tie-up with Amdocs to enable State Bank of India to offer mobile financial services using BSNL’s network.

How is the company aligning itself with BSNL and SBI to facilitate mobile payments?

We have signed an agreement with Amdocs to enable State Bank of India to offer mobile financial services using BSNL’s network. This service will offer customers of any mobile operator to get a mobile wallet account.

The solution will allow SBI and BSNL to support an extended ecosystem of multiple merchants and business correspondents such as credit card companies and utility providers on the mobile network, enabling easy payment and top-up transfers to third parties. We own the overall project management, including developing the end customer and retail application and portal, retail channel management and tier 1 and 2 services.

How big is this opportunity? and what kind of market share is the company targeting?

The way internet/smartphone penetration is growing in the country, Mobile Wallet market in India has huge potential to grow. On top of this, Government is also taking digital initiative to reach to the remotest parts of the country.

Banks have limited access in terms of reach to rural areas; mobile wallet is the only viable and cost-effective solution. Since our mobile wallet is open prepaid instrument and have feature of cash out, we see a great opportunity and target to have 200 million mobile wallet customers in next four years.

What are some of the challenges that lie ahead for this segment of mobile payments today? How can these challenges be removed?

The Mobile payment segment is facing some tough roadblocks. Prima facie, it is the traditional mindset of Indians, both the customers and the merchants, to rely heavily on cash transactions and conventional bank-to-bank transfers.

Lack of education and awareness of the numerous benefits of m-Wallets is another factor. Then, there are security concerns, felt even by the experts. Although the user’s personal information is encrypted when stored on the phone, cases of virus attacks, susceptibility to theft/loss of sensitive information and its misuse, congested networks and failed transactions where payments are actually debited, are all a point of contention for the wary customer.

Despite the teething troubles, there is no denying that the m-Wallet segment holds tremendous promise. There is a need to invest heavily in creating a state-of-the-art technology platform and training as well as educating people about m-Wallet benefits. Moreover, interoperability between stakeholders and services, supported by friendly regulatory considerations can help build a robust m-Wallet ecosystem in India.