In December, last year, Nokia announced the pan India launch of its mobile wallet service. Now, soon after, Airtel follows in by declaring the nationwide availability of the Airtel Money, expanding to 300 key cities after a successful launch in Delhi NCR and Chennai. With Airtel Money, users need to load cash on their mobile devices, which can then be used to pay utility bills, recharges, at about 7000+ merchant outlets and more. This isn’t all, Airtel also brings in the feature to transfer money from one Airtel Money wallet to another Airtel money wallet and bank accounts. This will allow users to transfer money across the nation.
Pay using mobile
One can subscribe to airtelmoney by dialing *400#, registering on airtelmoney.in or by visiting the Airtel gallery and filling in the form by providing appropriate documents. Just choose your MPIN to activate the account and load cash through Airtel retail outlet or net banking account. Customers can opt for Express account or Power account. The Express account has a daily spending limit of Rs.10,000 and is applicable to utility and recharge bills, while Power account has daily spending limit of Rs. 50,000 and can be used for utility and recharge bills and also merchant outlets, online shops and transfers.
Commenting on the rollout, Sanjay Kapoor, CEO – India & South Asia, Bharti Airtel said, “While an estimated 240 million people across India hold bank accounts, more than 90% of country’s population uses cash to pay for its daily needs. Additionally, a majority of customers continue to rely on traditional or time consuming methods like money orders and cheque remittances when it comes to transferring funds. On the other hand, the penetration of mobile telephony currently enriches the lives of over 900 million people in our country and can facilitate a paradigm shift in the way India transacts. We see the national rollout of airtel money playing a pivotal role in accelerating mobile based commerce in India and look forward to further extending the availability of this service in deeper pockets of the country in weeks to come.”
For Airtel Money Power Accounts, Airtel has established merchant partnerships with over 1,800 brands, across the country, including state electricity boards like BSES, Reliance Energy, Indraprastha Gas, telecom (BSNL/MTNL) and insurance (LIC) and mutual funds, organized retailers (e.g. DT Cinemas, Fun Cinemas, Megamart, Univercell, Apollo Pharmacy) and also local chemists and grocery stores. It could also serve as an alternative payment option to debit and credit cards, in days to come for online transactions on popular websites, like Flipkart, Yatra, Letsbuy and more, says the company.
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