mPay
The latest invent that makes payment possible without using hardcash is  ‘mPay’ – a secure embedded blackberry application on gift and loyalty, designed and developed by Tarang Software. “We are looking to launch mPay by September this year,” says V Rama Kumar, CEO, Tarang Software. Initially targeted at the retail and logistics sector, the process works on wireless technology, paving the way for a speedy process. “A debit/credit card cannot be used for gift and loyalty transactions. But we have the capability of developing credit/debit applications on the blackberry,” explains Mr Kumar. mPay can also be used in java enabled mobiles, windows mobile, smart phones and palm handsets, he informs.
The loyalty cards are used to gather points for the purchases. On accumulation, these points can be redeemed for special offers, discounts or gifts. Kishalay, Engineering Manager, Tarang Software mentions, “We have taken proper security measures for the application.” Mr Kumar chips in, “As a company policy we do not keep any passwords.” Also when the card details are sent; the system asks for a password, validated by the server - for the transaction to be completed. Additionally the card can be swiped at the shopping locales. Customers can even get receipts as the application can interface with printers – both for bluetooth and wire. 
Movable businesses like Taxis, retail home delivery (FabMall, Reliance Fresh etc), as well as restaurants and movie ticketing can use the system without customer hitch of giving card details. Even courier services – Fedex, Blue Dart etc can make extensive use of the application.