cellMONEY is a mobile electronic pre-paid voucher, available in various denominations. The voucher is distributed electronically via mobile phone, instead of physical means. The customer can buy cellMONEY voucher either through an authorized retailer or via credit card. The cellMONEY voucher gets linked with the customer’s mobile number and can be used to make payments via cellPAY.
Before customer uses cellMONEY voucher amount for making payment, he needs to activate his cellPAY individual account. During the activation process, the customer needs to associate M-PIN with his mobile number in the cellPAY account.
After activation, customer can make payment using cellMONEY as follows :
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Customer sends SMS in the pre-defined format for the merchant to 5667766.
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Customers receive an IVR call and is prompted to enter M-PIN
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Upon validation, customer receives confirmation SMS containing the transaction details.
The payment transaction using cellMONEY is secure. Double layer authentication is enabled. The customer needs to send SMS from the registered mobile
number. The payment is authenticated only when customer enters M-PIN associated with the mobile number. M-PIN is captured securely via the IVR call. The M-PIN remains confidential between customer and Cellnext and no third party is involved in the authentication process. The M-PIN is stored in cellPAY database in encrypted format.
We are in the process of launching cellMONEY shortly. Watch this space for updates and more information.
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