Tamil Nadu BSNL circle partners with SBI to launch MobiCash m-wallet

CHENNAI: National network carrier BSNL Tamil Nadu Circle has launched Mobile Wallet (m-wallet) in collaboration with the nationalized banking giant State Bank of India.

Today, N Poonguzhali, Chief General Manager, Tamil Nadu Telecom Circle launched the m-wallet and made it available to all mobile subscribers in Tamil Nadu and Pondicherry.

Commenting on the launch, CGM Poonguzhali, said, “The services of BSNL SBI MobiCash M-Wallet will pave the way for e-platform for making digital payments by customers using their basic feature phone or smart phone. It is a virtual wallet on mobile phones enabling the customer to carry out money transactions in an easier way in the day-to-day life."

BSNL believes that under the current demonetization drive, the launch of SBIMOBICASH will come in handy for the public to make cashless transactions. It does not require the customer to have any bank account. Mobile subscriber can download the SBIMOBICASH app or can get it loaded free of cost, assures BSNL.

The BSNL-SBI MobiCash mobile wallet service facilitates banking transactions including deposit and withdrawal of money, fund transfers (wallet to wallet, wallet to SBI bank account, wallet to other bank accounts), mobile recharge (BSNL prepaid), and bill payment (BNSL landline and postpaid).

BSNL says that owing to its presence in rural and remote locations of the states, the network provider can enable banking solutions in rural Tamil Nadu through this m-wallet. “Though the bill payment and recharge facilities will be initially limited to the BSNL only, in future other utility bills like electricity and water bills will be introduced,” expressed Poonguzhali.