SBI launches pre-paid mobile wallet


Expanding mobile payments in India

The State Bank of India has launched MobiCash Easy. The Mobile Wallet in Mumbai and Delhi offers facilities such as balance enquiry, mini statements, funds transfers; mobile top ups and bill payments.

The service is available over Wallet Application and plain text SMS. Oxigen CSPs and retail outlets will be the cash-in points to start with, the location of which can be obtained by sending an SMS to 9870888888. The new service will contribute significantly towards increasing mobile payments in India which are currently in a very nascent stage. It will also address the requirements of financial inclusion as it enables SBI to extend financial services to the unbanked masses through mobile phones. It is not mandatory to have an account in State Bank of India to register for the State Bank MobiCash Easy. 

The registration process is simple with users able to send an SMS to a number depending on their phone model. MobiEasy Cash is available over Wallet Application and plain text SMS. 

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