Idea Cellular has launched a mobile wallet service Idea Money which allows customers to conduct transactions like prepaid mobile recharges, DTH recharges, utility bill payments and money transfers. Also Read - Vi (Vodafone Idea) is now focusing on growing broadband business with You Broadband
The service was launched in Mumbai in July and it will be expanded across the country in a phased manner, a company source said.The source, however, refused to share a timeline for the availability of the service across pan-India. Mobile operators like Bharti Airtel, Vodafone and Tata Teleservices are already offering such mobile wallet services. Also Read - DoT permits telecom service providers to go ahead with 5G trials
As per the company’s website, Idea Money is a semi-closed prepaid payment instrument offered by Idea Mobile Commerce Services Limited (IMCSL), which has got a licence from Reserve Bank of India to offer this service. “Simply put, it is a prepaid account which can be accessed using your mobile phone or the Internet for conducting a variety of transactions like prepaid mobile recharges, DTH recharges, utility bill payments, money transfers & more,” Idea said. Also Read - Vi offering health insurance with Rs 51, Rs 301 prepaid plans: Check benefits
Idea Money currently allows prepaid mobile recharges, DTH recharges, utility bill payments and money transfer. The company though plans to introduce payment for shopping and ticketing transactions later.