Understanding Barriers to Access, Uptake and Usage of MFS

Mobile Financial Services - India

MFS- India

Airtel Money

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Handsets

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Airtel Money - About the Service

• Airtel Money is a digital wallet where customer can transfer money, pay bills and perform other financial services directly on the mobile phone.

• It offers the following three types of accounts.

- Express account

- Power account

- Super account (no-frills saving account)

• For Express and Power accounts, Airtel Money has tied up with SBI bank while Super account is powered by Axis Bank.

• These accounts provide safe and secure savings avenue to under-banked and low income population of urban and rural areas of a country.

• Airtel Money is available in 300 cities (27 states and union territories) through a network of 7000 authorized agents.

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Airtel Money- Service Delivery and Special Features

Service Delivery

• Airtel Money can be used independently but customers need to visit nearby designated Airtel Money outlets for cash deposit and withdrawal

• Customers can operate Airtel Money services through any SMS enabled ordinary keypad handsets, like Nokia 101 and Samsung Guru E1207T.

• Airtel money has MPIN as a security to account

• Maintenance charges of INR 5 per month is charged for using the service.

Special Features for Rural Population

• No-frills saving account followed by 4% annual interest on the balance amount

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• Airtel Money is a USSD code based service and involves simple steps from opening an account to money transfer.

Airtel Money – Service Format

New Account Fee : INR 50

Balance :INR 100

Money TransferCharges : INR 5 to 10

PIN Change Fee : INR 10

Money DepositCharges : None

Money WithdrawalCharges : None

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Airtel Money- Service Functionality

Select “My account”

Select “change mPIN”

Enter old PINRe-enter new PINEnter New PINDial *400#

PIN Change

Confirmation message received

Select “Send Money”

Enter “1” for “To Airtel Money”

Enter mobile number

Re-enter mobile number

Dial *400#

Money Transfer

Enter amount

Confirm sending ‘Rs. Xxx” to Mobile number “xxx”

Enter mPINConfirmation message received

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Airtel Money- Service Functionality

Select “My account”

Select “mini statement”

Select “last five transactions”

Select “send report by SMS”

Dial *400#

Mini Statement

Enter 4 digit mPIN”

Mini statement received

Select “My account”

Select “Balance”

Enter 4 digit PIN

Balance will be displayed on the screen

Dial *400#

Balance Enquiry

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Handset - India

Nokia 101 Handset

Samsung Guru E1207T

• For conducting the usability testing in India, we have chosen Nokia 101 and Samsung Guru E1207T

• Key features of Nokia 101

- Dual SIM (GSM + GSM)

- Expandable Storage Capacity of 16 GB

- Alphanumeric Keypad

- 1.8-inch LCD Screen

• Key features of Samsung Guru E1207T

- Single GSM SIM

- 1.52-inch TFT Screen

- Alphanumeric Keypad