Update: We’ve just received a note that Airtel Money has now been launched in Delhi and its neighboring areas of Noida, Ghaziabad and Faridabad, in partnership with (they claim) over 2,200 merchant establishments across the region.
What’s notable about this particular announcement is that deals have been inked with utility providers like NDPL, BSES Yamuna, BSES Rajdhani, Indraprastha Gas, LIC and organized retailers such as Easy Day, Chalchitra, Yo China, Costa Coffee, Hair n Shanti, DT Cinemas, Fun Cinemas among others as well as local chemists and grocery stores.
I’m setting up an Airtel Money account…lets see if this works.
Earlier today: Early days for Airtel’s Mobile Money initiative, but consumers are transacting, it appears: according to data received by MediaNama via a Right to Information request filed with the Reserve Bank of India, 1665 transactions were reported for the month of April, worth Rs 1,56,456, at an average of Rs 93.97 per transaction, for Airtel M Commerce Services Ltd. Remember that at the end of April, the company had only launched services in Gurgaon.
In comparison, independent prepaid wallet services like Sodexho reported transactions worth Rs 149,51,93,409 for the same month, over 49459 transactions, while Itz Cash Card reported transactions worth Rs 11,51,24,2301 over 308,941 transactions.
The number of transactions for Airtel Money have been steadily growing since January 2011; the pilot for Airtel Money was officially launched on January 31st 2011 in Gurgaon, and the company has since expanded services to Chennai. Delhi is next.
Airtel was granted a mobile money license on 31st July 2010 for a year (so it should be up for renewal soon). This is a semi-closed prepaid wallet, which means that while customers can store money and use it for transacting, they cannot use it for person to person transfer, and cannot convert it into cash.
We’ll have a more detailed visualization of cash card service transactions at MediaNama Charts soon.
Our previous coverage of Airtel Money:
– Airtel Money Launches In Chennai; Delhi Next
– Airtel Launches Airtel Money: Prepaid Cash On Mobile; Charges, Transaction Limits
– Airtel Granted License To Offer Cash Card Services In India
– The Digital Prepaid Payments Market In India Is Getting Crowded
– RBI Ups Mobile Wallet Card Txn Limit To Rs 50k; M-Banking Encryption
– Itz Cash Card Expects Rs 3000 Crore Turnover In FY11; 8 Million Users
– RBI Revokes Kaizen’s Authorization To Issue ‘Go Mumbai’ Prepaid Card