BSNL Chennai Telephones. in partnership with State Bank of India, has launched Mobicash, a mobile wallet (mWallet) service for cashless transactions.

The service was launched for both Chennai and Tamil Nadu circles. SM Kalavathi, CGM, Chennai Telephones, told newspersons that following the Centre’s push towards digital transactions, Mobicash was the first initiative by Chennai Telephones in mobile transaction. To begin with, customers in both circles can pay their telephone bills, and in a month the service will be extended to payment of electricity and waters bills, she said.

Indu Shekar, General Manger, Network 1, State Bank of India, said both SBI and BSNL, Chennai Telephones would launch an awareness campaign across the state to propagate the new service, which would be useful for people who have even a feature phone.

It is the only mWallet that works in basic phone and smartphone. The extensive network of SBI powered by the pan-India presence of BSNL will make sure that the new service will be a success, he said.

MobiCash will enable BSNL customers to recharge or top-up, pay bills, transfer money from one wallet to another (to shopkeepers and vegetable vendors), from one wallet to a bank account and all utility payments.

If a migrant worker from Bihar with a basic phone wants to send cash to his family back home, he can go to the nearest BSNL service centre, deposit the money to be transferred and provide the mobile number of the recipient . An OTP will be generated to validate the transaction.

The recipient will get an alert on phone, and can go to the service there to collect the money. They do not require a bank account to do the transaction. The mobile number itself acts as the account number. The maximum transaction value is ₹20,000 for non-KYC member and ₹1 lakh for KYC member, said Kalavathi.

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