Digital wallets and cashless payment methods have seen a significant rise in India. This is a direct effect of demonetisation of 500 and 1000 rupee notes. BSNL has announced MobiCash Wallet launched in association with State Bank of India (SBI). The wallet is said to be a Paytm rival which is currently the most popular digital payment option. The launch of MobiCash wallet is also seen as a step by BSNL to regain its market share which has dropped to just 6%.
Download State Bank MobiCash wallet
Link to download MobiCash wallet app – Download MobiCash
MobiCash wallet is available in 4 states for now
“The app has been launched in Haryana, UP, MP and Bihar at the outset. Gradually it will be launched all over the country to promote cashless economy.” This is a statement made by Anupam Shrivastava, chairman cum managing director (CMD) of BSNL at a press conference held at Bhopal.
The service will be available in Madhya Pradesh from January 1 2017.
The service will be accessible on Smartphones as well as Feature Phone
After downloading the app, even feature phone can give access to services. Once a customer registers, he or she can avail both the cash in and cash out facilities with help of a network of BSNL franchises and retailers.
MobiCash – Another step towards cashless economy?
Is MobiCash a push towards digital payment methods by the government?
Government is aiming to transition towards a cashless economy. DigiDhan Mela held at National Stadium, Delhi was held with a similar aim. This was a 2 day event where people were provided chance to walk in and familiarise themselves with digital payment options.
Here’s a video from Day 1 of DigiDhan Mela: