In a joint collaboration Public Sector telecom operator Bharat Sanchar Nigam Limited (BSNL) and State Bank of India (SBI) today unveiled a Mobicash application to offer fully indigenous package of technology and micro bank service at Central Telegraph Office (CTO) in Shimla this morning.
The Mobicash Wallet was launched in a formal ceremony by the BSNL General Manger mobile service, Mr. M.C. Singh and Deputy General Manger of SBI, Mr. P.K. Mishra at committee hall of CTO this afternoon. Unveiling the Mobile Wallet, Mr. Singh said that BSNL and SBI have inked a MOU to provide this service to promote cashless transaction when their is urgent need of a reliable and hassle free fully indigenous payment gateway or wallet in the Country.
He said that registered customers could avail this M-Wallet for multi purpose transaction as it would act as Micro-bank and Point of Sale (POS) simultaneously and also help BSNL to sell its products and services. Terming the wallet fully indigenous and highly trustworthy Mr. Singh said that customers could avail this facility without taking any risk as Mobicash could be used for Top-up, Load and recharge the BSNL mobile packages and they can pay their bills online from their homes.
After registering as retailer customers need to download the Mobicash App on their smartphone. No registration fee would charged till Jan 31, 2017. Terming it as big leap for BSNL in the cashless transaction business Mr. Singh claimed that the application would prove boon for those who live in far flings areas of this hill state. Smartphone holders could download the App from Google play-store, moreover other phone holders could use this Wallet with help of SMS or USSD as they would need to send an SMS on 51516 with message – SBMCSMS*DOB(DDMMYY)*NAME*NICKNAME – or they could also dial -*511#.
DGM of SBI Mr. Mishra said that far-flung and tribal areas of the State still have very less financial inclusion and low Bank density and people living in such places would take benefit of this service in transaction of money. This hill state has highest mobile phone density in the Country after Kerela as BSNL have more than 20 lac mobile customers and nearly 90 per cent literacy rates would make this project a success.