Maharashtra to run its own m-wallet

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In the era of demonetization e-wallets gets huge customer range. Maharashtra finance minister Sudhir Mungantiwar is also supporting the launch of the wallet to push cashless transactions in Maharashtra after the demonetization of Rs 500 and Rs 1,000 notes.

Following this now Maharashtra is set to become the first state to have its own mobile wallet that will also allow users to transfer funds to or from other mobile wallets such as Paytm, Freecharge and Mobikwik. ‘Mahawallet’ is expected to be launched in the next 15 days.

“There are multiplicity of mobile mobile wallets with no arrangement for transfer of funds. We are working on a switch like the one developed by National Payments Corporation of India (NPCI) where funds are transferred between different banks,” said VK Gautam, the state’s principal secretary for IT.

He also added that the wallet will work as a switch where even when the person does not have the same wallet, he/she can send or receive funds through the Mahawallet.

The Mahawallet key features is to transfer funds from one wallet to another, said Gautam.

He said “Why should Alibaba have all the fun?”, referring to Paytm, in which the Chinese e-commerce giant is the biggest investor. Mahawallet would compete with Paytm.

Mahawallet will also allow users to pay electricity and water bills. The state government is in discussion with various banks & the NPCI to work out the process of the wallet.

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