Airtel Announced Launch of Mobile Wallet Service

The largest telecom service provider in India, Airtel on 31 January 2011 announced the launch of its Mobile Wallet service. The service would be launched across the country in a phased manner starting from Gurgaon. Airtel had earlier announced a mobile banking joint venture with SBI. The new service will act as a semi-closed wallet which essentially means that money loaded on the phone can only be used to make payments rather than encash it.

To avail the service people need to get new 64K Airtel money enabled SIM. In order to get the money enabled SIM a person is required to visit an Airtel money retailer and fill a request form to change existing SIM. Once the new SIM is activated the Airtel money application form is required to be filled for an individual to begin using the service. Details of identification proof would be needed to complete the process. The service holders of the others providers would have to first change their network provider to Airtel to be able to opt for the service.