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Idea Cellular launches mobile money service

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Idea Cellular has launched a mobile wallet service Idea Money which allows customers to conduct transactions like prepaid mobile recharges, DTH recharges, utility bill payments and money transfers.

The service was launched in Mumbai in July and it will be expanded across the country in a phased manner, a company source said.

The source, however, refused to share a timeline for the availability of the service across pan-India.

Mobile operators like Bharti Airtel, Vodafone and Tata Teleservices are already offering such mobile wallet services.

As per the company’s website, Idea Money is a semi-closed prepaid payment instrument offered by Idea Mobile Commerce Services Limited (IMCSL), which has got a licence from Reserve Bank of India to offer this service.

“Simply put, it is a prepaid account which can be accessed using your mobile phone or the Internet for conducting a variety of transactions like prepaid mobile recharges, DTH recharges, utility bill payments, money transfers & more,” Idea said.

Idea Money currently allows prepaid mobile recharges, DTH recharges, utility bill payments and money transfer. The company though plans to introduce payment for shopping and ticketing transactions later.

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