Airtel says go mobile with payments

Bharti Airtel today announced the launch of Airtel money, a mobile wallet service that allows payments through the mobile platform, in Gurgaon.

Airtel, which was granted the license to use semi-closed wallet by the RBI, said it will roll out the service to Delhi NCR and other key cities across the country.

Semi-closed wallet implies that one can't withdraw the money once transferred to the account but can only use it for payments to select merchants through the Airtel application.

For the Gurgaon launch, the telecom provider has already formed partnerships with several merchants including coffee shops, restaurants among others to accept payments through Airtel money.

This number will be gradually scaled up to 3,000 merchants across the city, the company said in a statement. Besides, the company says customers will be able to avail exclusive discounts and promotions at partner outlets.

''We see a huge potential for m-commerce services in India and are confident that the launch of Airtel money will facilitate a paradigm shift in the way consumers transact,'' said Atul Bindal, president - mobile services, Bharti Airtel.

Airtel had recently formed a marketing JV with State Bank of India to provide banking and financial services to its customers. (See: SBI, Bharti Airtel form mobile banking JV)