BSNL has launched a pre-paid card linked mobile wallet service which would allow the customers to transfer money, pay for services as well as withdraw cash of up to Rs 1 lakh. The wallet service has been named as Speed Pay, which allows a customer to load money even if he does not have a bank account. The money loaded in the mobile wallet can be transferred to a bank account and even withdrawn at bank branches or at BSNL outlets.
The service was inaugurated by Telecom Minister Ravi Shankar Prasad. BSNL has launched the service in partnership with IT company Pyro. BSNL’s CMD Anupam Shrivastava said that the money loaded in the mobile wallet can be transferred from mobile phone to a bank account and even withdrawn at bank branches or at BSNL outlet.
Points to Note
- Transaction Charge from Wallet to Bank Account – 1%
- For Other Services – No Charge
- Daily Cash Withdrawal Limit – Rs 5000
- Pyro has partnered with money transfer technology firm Visa.
- Visa enables Speed Pay card holder to purchase goods both offline and online.
- Facility is available now in Andhra Pradesh. By September 2015, Speed Pay card service will be available in Karnataka, Kerala and Tamil Nadu.
GK Question
- BSNL has launched an entertainment service recently. What is it’s name and who is the partner? The name of the service is BSNL Buzz and Celltick is its partner.
