Other Ser­vice Providers

Consumer Voice - - Bfsi Guide -

2011. Its in­her­ent disad­van­tage is that it does not al­low cash-out. It does not have a pan-In­dia tie-up with any bank, ex­cept for a small frac­tion un­der tie-up with Axis Bank. called Air­cel-Mo­bile Money and another mo­bile plat­form through VISA in early 2013. It of­fers a wide range of fi­nan­cial ser­vices in­clud­ing cash de­posits, cash with­drawals, money trans­fer to third par­ties, self-reload of pre­paid mo­bile credit and util­ity bill pay­ments. The com­pany has a tieup with ICICI Bank. On sign-up, their cus­tomers will be able to use the ser­vice in­stantly on any mo­bile phone even with­out data con­nec­tion.

M-wal­let adop­tion so far has been low pri­mar­ily due to lack of aware­ness as well as low pen­e­tra­tion of in­for­ma­tion and com­mu­ni­ca­tion tech­nol­ogy (ICT) net­works. Fi­nan­cial in­clu­sion is the need of the coun­try and the m-wal­let can play a cru­cial role in

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