Aircel and ICICI Bank have jointly launched the Mobile Money mobile-based banking service, operating on Visa?s mobile managed service.
The service offers a range of financial services on the mobile handset, such as cash deposits and withdrawals, money transfers, self-reload of prepaid mobile credit, and various utility bill payments.
The service will initially be available in Tamil Nadu and will be rolled out in the rest of the country during this year.
Commenting on the launch, Geoff King, head, mobile banking, Aircel said, ?We are extremely pleased to be launching Mobile Money to provide our customers with a safe, secure and instant way of managing their financial needs. By partnering with ICICI bank and basing Mobile Money on the Visa platform we have joined forces with two companies that have a strong pedigree in financial services, together with a great desire to deliver innovative financial service solutions to better meet the needs of the country?s unbanked. Aircel brings to the partnership not only our mobile network but just as importantly our attention and care in serving millions of customers every day with many millions of small cash transactions through our vast retailer and distributor setup.?
