Crosses 50,000 subscribers in first 10 days of roll out
Telecom operator Bharti Airtel has launched first of its kind mobile wallet service 'airtel money' in Maharashtra and Goa circle recently. With this service, customers can 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. According Airtel, Maharashtra and Goa at Bharti Airtel, has crossed 50,000 subscribers within the first 10 days of its roll out in Maharashtra and Goa circle.
The service is now available in 700 cities and towns across India. Airtel has over 180 million customers in India. The service is operated by its wholly-owned subsidiary Airtel M Commerce Services (AMSL). Airtel money service will be made available to customers in all the 23 telecom circles in the next three months.
Commenting on this, Ramesh Menon, chief executive officer, Maharashtra and Goa at Bharti Airtel, said, "As per the Reserve Bank of India’s (RBI) approval, the former has a daily spending limit of Rs 10,000 and the latter Rs 50,000. The company charges Rs 5 for transaction up to Rs 500, and above that, Rs 10.
The customers could choose from two airtel money accounts: express and power accounts. The company had partnerships with over 1,800 brands across the country who will accept payments via airtel money."
The brands include utility provider such as Tata Power Company, Maharashtra State Electricity Board, telecom (BSNL/MTNL), Reliance Energy, Indraprastha Gas. Also, the insurance companies, organised retailers, mutual funds, movie theatres and local merchants who will now accept payments via airtel money.
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