State-run telecom firm BSNL has partnered with State Bank of India to launch a mobile wallet across four states likely by next week and across India by end of this month. Also Read - BSNL launches new limited time Rs 45 FRC: Here's how it compares with Airtel, Jio, ViAlso Read - Top 5 news from the world of technology: OnePlus Nord 2 specs, Mi 11 Ultra sale and more
“We expect to launch mobile wallet with SBI by next week across four states and pan India by end of this month,” BSNL Chairman and Managing Director Anupam Shrivastava said on sidelines of ‘Agenda Aaj Tak’ event. While talking about digital transaction proliferation in the country at the event, Shrivastava said that inclusion of rural India to adopt mobile wallets will push cashless transactions multifold.
“For rural India, BSNL and SBI in partnership are bringing mobile wallet Mobicash which will not only work on smartphones but also on feature phones using SMS and USSD platform,” Shrivastava said. He said BSNL has been using National Payments Corporation of India (NPCI) gateway for bill payments even when cashless transactions were not a necessity.
“With bold step taken by government, cashless transaction has become necessity and people will adopt it rapidly,” Shrivastava said. BSNL is now fourth largest mobile player in the country with a total subscriber base of over 92.36 million. The loss making public sector firm has started posting operational profit.
The growth in income and ability to contain expenditure in salary, administrative, employee remuneration and other benefits, helped BSNL in growing Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) to Rs 3,855 crore in 2015-16 from Rs 672 crore in 2014-15. ALSO READ: BSNL to invest Rs 2,500 crore on expansion plans during second half of FY 2017
He said that the new service concept infused new life in to BSNL and the company is now rapidly transforming. “Big change in the company has come … Service with a smile is initiative that has come from employee associations and unions. They said that we are technical department but unless we focus on service till then we will not be able to improve. They came up with the concept of service with a smile,” Shrivastava said.