CorpBank, BSNL, Pyro set up ’SpeedPay’

CorpBank, BSNL, Pyro set up ’SpeedPay’

www.mangaloretoday.com

Mangaluru, September 2, 2016: Corporation Bank, BSNL, Bharat Sanchar Nigam Ltd.  and Pyro on Sept 1, Thursday, signed an agreement to roll out ’SpeedPay’, a mobile “Open Loop” virtual prepaid wallet, in Karnataka, Kerala and Tamil Nadu.

’SpeedPay’, launched by Union Minister for Communication and IT Ravi Shankar Prasad in July 2015, enables users to carry out domestic money transfer, cash deposits and withdrawals at authorised SpeedPay agents, prepaid mobile and DTH recharge, purchase of bus tickets, insurance premiums, telephone, credit card and electricity bill payment. Though more services will be added to the portfolio, soon to be introduced are online payments and merchant payments.

Speaking on the occasion, Corporation Bank Managing Director and CEO Jai Kumar Garg said, “SpeedPay can be used by customers of any mobile network operator and is not limited to BSNL alone. SpeedPay can be used through a mobile app, USSD menu and web portal.”

Pyro Managing Director S.M. Reddy said, “We are pleased to introduce SpeedPay service in the additional States in partnership with BSNL and Corporation Bank. SpeedPay has the features of a bank account with the freedom of a prepaid account.” It offers a safe and easy payment option to every customer, especially to those who do not have a debit card/credit card/bank account.”