1

CHALLENGES
LESS NUMBER OF BANK ACCOUNT
HOLDERS IN INDIA
India had less bank account holders in comparison to African
countries due to which Airtel money seemed to add additional steps
and complexities such as registering with vendors and loading cash

INCREASED AWARENESS OF
INFORMATION SECURITY
• Due to advent in mobile technology and information accessibility,
people became aware of security and safety which had a huge
impact on adoption of Airtel Money

RBI REGULATIONS

• Airtel money was a pre- paid and closed loop service as only
Banks were allowed to transact on credit in India.
 2

COMPETITORS
 The Department of Posts and BSNL
They launched a new service called Mobile Money Transfer which was a refined version of
their earlier money order product. This new service enabled the sender and receiver to
communicate via phone messages and permitted the receiver to withdraw money from the
nearest post office.
 Vodafone India limited
It partnered with the leading private bank of India ICICI Bank and launched mobile money
transfer service called M-PESA.
 Union Bank Money
It was launched by Union Bank of India in collaboration with the Indian Financial service
company FINO.
 Tata mRupee
Another big Business house TATA launched Tata mRupee with the tagline "Your Money on
your mobile." It claimed to provide safer alternative to carrying cash and cards.
 EKO
It was a significant player in this domain provided low cost, convenient financial transactions
and leveraged existing retail shops, telecom connectivity and banking infrastructure to extend
branchless banking services.