Airtel launches Mobile Wallet Service

Remember the idea ad in which a lady pays a fish vendor Rupees 100 "mobile to mobile".

Airtel, country’s largest telecom service provider, has launched a similar service, called Mobile Wallet.

The service would be launched across the country in a phased manner starting from Gurgaon.

Mobile Wallet, is a semi-closed wallet which essentially means that money loaded on the phone can only be used to make payments rather than encash it. Just like the lady in Airtel ad did.

How to avail the service:

To avail this service a user has to get new 64K Airtel money enabled SIM. The special SIM can be bought from an Airtel Money retailer. Existing Airtel users can simply fill a request form to change existing SIM at the retailer. Once the new SIM is activated the Airtel money application form is required to be filled for an individual to begin using the service. Details of identification proof would be needed to complete the process.

Those on rival operators, first have to change their network provider (can use MNP if want to retain the old number) to Airtel to be able to opt for the service.

Airtel, like other top companies are trying to reduce the pressure on their revenues; and in an effort are entering mobile banking sector. Airtel had earlier announced a mobile banking joint venture with SBI. --------

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