The city-based firm has partnered with TranServ to integrate payments with its service platform, which will allow Micromax users to use mobile wallets in a simplified manner. "This is India's first smartphone-based native payments solution. We will roll out a series of payment solutions specifically designed to meet the varied demand of consumers," Micromax co-founder Vikas Jain told reporters here today.

Using the solution, Micromax users will be able to conduct financial transactions like sending or requesting money, splitting bills and making payments to contacts in the device address book, he added.

"Over the next three months, 80-90 percent of our portfolio of handsets will be covered. While the new devices will come with the integrated platform, the older devices will get a software update for the same," Jain said.

He cited once a consumer buys a Micromax phone, they will get a card with it that can be used for physical transactions. "Both the card and the feature on the phone can be used to make payments. It's an opt-in service, we will not force users to use it. Users can fill in money through net banking, debit/credit cards as well as over 1.35 lakh retails stores where Micromax devices are sold," he added.

Asked about the number of users targetted, Jain said the company expects to "reach out to 10 per cent of the Indian population".