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BSNL to launch wallet service with SBI within a month

State run telecom operator BSNL will partner with the State Bank of India (SBI) to launch an online wallet within a month, reports the Indian Express. Anupam Shrivastava, the chairman and managing director of BSNL told the publication that the service will be made available countrywide in 15-30 days. SBI and BSNL will also approach their nodal ministries to enable the wallet to disburse subsidies under Direct Benefit Transfer (DBT) scheme. Shrivastava mentions that the product testing is done, and it is ready for release once the permissions are granted. The wallet is likely to be called SpeedPay, the same name as the wallet BSNL launched in partnership with Andhra Bank in Telangana and Andhra Pradesh in July last year. At the time, BSNL had said that it was in talks with Punjab National Bank and Bank of India for expansion of its service to Karnataka, Kerala and Tamil Nadu. Interestingly, in June last year, BSNL said it would launch a mobile wallet in partnership with SBI. However, it looks like this partnership was delayed, during which time BSNL partnered with other regional banks to launch the service. The SpeedPay wallet let users withdraw cash up to Rs 1 lakh through the mobile wallet service at BSNL or branch outlets, load money from BSNL outlets and recharge their mobile wallets and pay for services. BSNL charges 1% of the transaction amount when users transfer money from the wallet to other bank accounts or in case of a cash withdrawal. Why…

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