Aug 14, 2012: The Indian mobile payments solution provider, My Mobile Payments Ltd known for their retail Mwallet offering, the Money-on-Mobile, has floated an offshore unit in UK. The offshore unit will have 50% stake from the company and rest of the shares is held by a British entrepreneur of Indian origin, Manoj Karkhanis who is a known figure in cards industry in UK. The JV unit has already tied up with leading carriers like Vodafone and Hutchison-owned 3 as well as mobile virtual network operators (MVNOs) to provide talk-time top-up solutions to prepaid subscribers across the UK.
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