wordpress blog stats
Connect with us

Hi, what are you looking for?

MobiKwik to power mobile wallet for BSNL

State-owned telco BSNL has tied up with digital payments company MobiKwik to launch ‘BSNL Wallet’ a semi-closed mobile wallet exclusively for BSNL users in India. The company did not provide a timeline for the app launch but added that “the wallet will be developed, operated and issued by MobiKwik and distributed and marketed by BSNL,” MobiKwik said in a statement. The wallet can also be used as digital touch points for buying BSNL SIM cards online. MobiKwik will also sell BSNL SIMs to its users via 8000 ‘Feet on Street’ professionals and 250,000 offline retailers across India.

Note that this isn’t the first time that BSNL has partnered with a payments company. In July 2015, BSNL tied up with Pyro, a telecom company, Andhra Bank and Visa to announce SpeedPay, a semi-closed open prepaid instrument. BSNL also partnered with State Bank of India (SBI) in May last year for an online wallet app named State Bank MobiCash. In both tie-ups, BSNL users were able to withdraw and load money from their Speedpay/Mobicah mobile wallets via offline BSNL retail outlets, and pay for BSNL services.

In the above examples, BSNL had to partner with financial companies—SBI, Andhra Bank, Visa—for providing online payments to its users since BSNL cannot provide its own wallet/payment service due to RBI regulations. With the MobiKwik tie up, BSNL is circumventing the need to have a prepaid payments instruments license from the RBI to run a mobile wallet and directly connect to customers with a branded wallet app in its name (BSNL Wallet).

Previous MobiKwik tie ups

MobiKwik, which received a wallet license from RBI in 2013, has partnerships with multiple private and government firms. This is can be of advantage to MowbiKwik in two ways: i) Expanding its payment platform to new services, ii) Acquire new users belonging to partner companies. MobiKwik has tie ups with brands like Amul, for cashless payments across Amul’s 7000 outlets; a tie up Jugnoo for letting users pay for rides with the MobiKwik wallet.  It also has partnerships with government organizations like  IRCTC for tatkal payments and with National Highways for paying tolls via MobiKwik.

Advertisement. Scroll to continue reading.

Image Credits: MobiKwik Blog

Written By

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

Views

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

News

By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...

News

By Rahul Rai and Shruti Aji Murali A little less than a year since their release, the Consumer Protection (E-commerce) Rules, 2020 is being amended....

You May Also Like

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ