India is going digital with every step. To further boost this service, the very dear state-owned telecom firm partners with a renowned national bank. The talks relate to the agreement signed between the Bharat Sanchar Nigam Limited (BSNL) and the Punjab National Bank (PNB).
The open mobile wallet Speedpay was restricted to only a few Indian states earlier. With this new team-up, the Speedpay digital services are going to expand rapidly and reach more than 10 states at one-go.
From now on, Speedpay will operate in Jammu and Kashmir, Himachal Pradesh, Uttarakhand, Uttar Pradesh, Haryana, Chandigarh(UT), Punjab, West Bengal, Bihar, and Jharkhand. However, the services would continue without fail in Odisha, Andhra Pradesh and Telangana as witnessed from 2015.
So, you can withdraw or deposit money, pay your bills, recharge your phones, etc. with this fast internet facility.
Anupam Shrivastava, the Managing Director and Chairman at BSNL expressed his standpoint of its collaboration with PNB. “The reach of SpeedPay service under this partnership will increase to northern and eastern states. SpeedPay is also an ideal medium for government’s direct benefit transfer programme, to ensure quick and direct payment of subsidies to the citizens,” he said.
You can download the Speedpay app in your Android or iOS devices or operate on your web portals. It is not just limited to BSNL, but is open for all telecom networks. BSNL has simply increased its coverage boundaries with this major step.
“Both the company jointly have around 20 lakh retailers and agents across the country. We will be able to provide services in tier 2 and 3 cities where wallets of private companies have not been able to expand their reach,” a senior BSNL official reported.
The Executive Director of PNB, R S Sangapure believes that the BSNL-PNB teaming for the Speedpay wallet will not only add to the digital footprints of the country. But also, it would supplement the government’s digitalization drive towards a cashless economy.
The Telecom Minister, Manoj Sinha seconds the agreement between the PNB and BSNL. “India is now second largest market in the world with 120 crore mobile users. Congratulating BSNL, Punjab National Bank and the technology partners in helping India moving towards less cash economy,” he remarked.