Airtel Launches National Mobile Money Transfer
By Cerius Shah - Thu 06 Mar 2008 12:33 AM PST
Airtel has entered into agreements with ICICI, HDFC, SBI and VISA to offer Mobile Money Transfer (MMT), postpaid bill payment and prepaid recharge services in addition to ticketing services for air, rail and movies. The service is expected to launch March 15.
Essentially, its a tie up with mChek, a mobile payment aggregator, users will have to download the mChek Airtel branded application inorder to avail the services. We had earlier reported Airtel’s tie up with Western Union for migrant mobile money transfer, which according to this ET article, is awaiting regulatory clearances. As of now, only national money transfers can be initiated for users holding accounts in the banks mentioned, however, the receiver can collect the amount only if they have a Visa card. Plans are afoot to launch cash-to-cash money transfers by year-end subject to regulatory approvals.
Airtel reports 67,000 registered customers for Postpaid bill payments with over a 100,000 transactions running into several crore and 17,000 movie tickets have been bought using the service during the pilot project.
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