Punjab National Bank and state-run firm BSNL teamed up to roll out open mobile wallet “Speedpay”.
Speedpay wallet will operate like any other mobile wallet for paying bills; recharging phone besides its users will be able to deposit and withdraw money from authorised retail outlets.Also, Speedway users will be able to operate Internet banking services from the application.
India is now second largest market in the world with 120 crore mobile users.