MUMBAI: Bharti Airtel, India's largest telco by revenues and subscribers, launched its mobile wallet service Airtel Money in Delhi NCR on Wednesday, a company official said.
The service allows Airtel customers to make cashless payments from Rs 10 to Rs 5,000 a day for various services such as utility bills and movie tickets. The telco plans to raise the upper threshold to Rs 50,000 within two months, Airtel's m-commerce services chief operating officer Sriram Jagannathan told ET.
Bharti Airtel's scrip rose to 1.95% on BSE, closing at Rs 381.45 on Wednesday.
The service would be available to more than 8 million customers in Delhi, Noida, Ghaziabad and Faridabad and will be rolled out in the country in a phased manner.
The telco has tied
up with more than 3,000 merchants so far including local chemists, grocery stores and utility providers like BSES Yamuna and Indraprastha Gas . Earlier this year, the service was launched in Gurgaon and Chennai on a pilot basis. Customers can fill their mobile wallet by going to the nearest Airtel retail outlet.
Last year, Airtel's m-commerce service got a licence to use semi-closed wallet by the Reserve Bank of India.
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