BSNL Mobile Wallet (Speed Pay) service Launched to Transfer money, Withdrawal cash via BSNL outlets

BSNL facilitates cash withdrawal option through Mobile Wallet service where users can transfer money, pay for services as well as withdraw cash upto Rs.1 lakh without having bank account.

State owned Telecom Company Bharat Sanchar Nigam Limited (BSNL) inaugurates a Prepaid card linked Mobile Wallet option services allows customers to load money in wallet, transferred to a bank account and even they don’t have bank account can withdraw money at bank branchese or through BSNL Speed Pay outlet services.

Minister of Telecommunications Ravi Shanker Prasad inaugurated the M-Wallet services ‘Speed Pay’ in statement said, ‘I remember when after becoming minister, we were giving presentation of Department of Posts to the Prime Minister, the Prime Minister asked that can people of Uttarpradesh, Bihar, who work in Kerala State and Tamilnadu state, transfer money to their poor mothers? And now I am pleased for taking significant initiative launching Speed Pay services through BSNL outlets.

CMD of BSNL Anupam Srivastava said, ‘Loading money into wallet from a bank account is an option. BSNL customers, who don't have bank accounts, can also load money by visiting any BSNL retail outlet and ask the retailer to recharge their mobile wallet account and pay for various services with Speed pay’. The money loaded in the mobile wallet (Speed Pay) can be transferred from mobile device to a bank account and even without having bank account can withdraw cash at bank branches or at BSNL Outlets’ he added.

BSNL recently launched ‘BSNL Buzz’ in association with Celltick.
BSNL Celebrates 'Digital India Week' from 1st July, 2015 to 7th July, 2015.

BSNL an agreement with M/s Pyro Networks Pvt Ltd, launched the service in this event the company CEO Paritosh Reddy, ‘There will be 1 per cent transaction charge if money from wallet is transferred by a person to other bank accounts or a there is cash withdrawal. There are no other charges for other services. Daily cash withdrawal limit is Rs 5,000 and for full Know Your Customer compliant person it is Rs 1 lakh, said.

Pyro already with BSNL managing C-Topup transactions i.e Easy recharges database where customers can easily recharges Prepaid plans Topups, STVs, RCCs, at BSNL outlets or BSNL channel partners etc., through Pyro network services.

Now, Pyro come up with BSNL to introduce Wallet services, ‘We have partner with Andhrabank and Corporation Bank to facilitate M-Wallet service. We are in advance talks with Punjab National Bank and Bank of India to expand its possibility. Currently Topup facility is available across 1000 BSNL outlets in Andhrabank and in 3 months we will expand it to 45000 outlets in Andhrapradesh/Telangana Circle very soon’ Pyro CEO Reddy said.

By the end of September 2015 BSNL Speed pay (M-Wallet) services will be available in Tamilnadu, Kerala and Karnataka Circles.

Pyro has tipd with money transfer technology firm Visa which enables Speed pay card holder to purchase good both offline and online, like debit card, where Visa based transactions are accepted.

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