At the MCX, crude oil futures prices for March delivery were up by 0.23% to Rs4,777 per barrel...
‘Airtel Money’ becomes India’s first mobile based service to offer instant money transfer between its own prepaid wallets to bank accounts.
Bharti Airtel, through its wholly owned subsidiary Airtel M Commerce Services Limited (AMSL), announced the pan India launch of airtel money – India’s first of its kind mobile wallet service by a mobile operator. Available across 300 key cities in India - airtel money is a fast, simple and secure service that allows its users to load cash on their mobile devices and spend it to pay utility bills and recharges, shop at 7,000+ merchant outlets, transact online etc. Apart from serving as an easy alternative to cash / card payment options, airtel money has now become the first mobile based service to offer customers the convenience of instant money transfer from an airtel money wallet to another airtel money wallet and bank accounts. With this, customers can now use airtel money to make payments and transfer money across the country.
The national availability of airtel money follows the success of service’s first phase of launch in Delhi NCR and Chennai in 2011. 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.”