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BSNL launches mobile wallet for users without bank accounts

State run telecom operator BSNL has partnered with Pyro, a telecom, financial and analytics company, along with Andhra Bank and Visa to announce SpeedPay, a semi closed open prepaid instrument, reports ET. This can be used to buy goods and services at any POS machines, which accept cards as a method of payment. It will also let users withdraw cash from ATMs or customer service points. The service is also available as an app on Android and iOS. SpeedPay is Pyro’s RBI approved mobile wallet Pyro had actually received an RBI license for its semi closed prepaid payment instrument in July last year. Pyro had then branded the service as SpeedPay which let users load money onto their mobile phones to make payments with it. Note that cash withdrawal was not permitted for this service. Once the wallet was loaded…

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I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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