Idea Cellular launches mobile wallet service in India

Monday 25 August 2014 00:30 CET | News

Indian mobile network operator Idea Cellular has launched a mobile wallet service dubbed Idea Money which enables customers to conduct transactions in India such as prepaid mobile recharges, DTH recharges, utility bill payments and money transfers.

Idea Money is a semi-closed prepaid payment instrument offered by Idea Mobile Commerce Services Limited. It is a prepaid account which can be accessed using the mobile phone or the Internet for conducting a variety of transactions such as prepaid mobile recharges, DTH recharges, utility bill payments or money transfers.

The service was launched in Mumbai and it set to be expanded across the country in a phased manner. Furthermore, the company plans to introduce payment for shopping and ticketing transactions later.

In December 2013, Idea Mobile Commerce Services, the mobile banking subsidiary of the telco Idea Cellular received a five-year prepaid mobile wallet license from the financial institution Reserve Bank of India (RBI), enabling them to offer mobile payment services to its subscribers.

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Keywords: Idea Cellular, Mobile Wallet service, India, mobile wallet, mobile payment, mobile operator
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce