HYDERABAD: In an era dominated by payment apps like Paytm, PhonePe, GPay and Amazon Pay, Telangana’s homegrown digital platform, T-Wallet, has successfully held its ground, competing with these industry giants. The platform maintains an average monthly transaction volume of `400 crore.
According to officials, over the past six years, T-Wallet has facilitated transactions worth Rs 20,300 crore, predominantly used for paying electricity bills, e-challans and domestic money transfers. Launched on June 1, 2017, T-Wallet offers users an anytime-anywhere digital payment solution. It enables payments to various government departments, including Mee-Seva, GHMC, HMWSSB, TSNPDCL, TSSPDCL, RTA and HMDA ORR toll payments. The number of registered users with T-Wallet currently exceeds 14 lakh.
T-Wallet is accessible through online web browsers, smartphones, and feature phones. Users without smartphones can visit their nearest Mee Seva centres to open a T-Wallet account, load money (via cash or online transactions) and make payments using UID (Aadhaar) authentication. T-Wallet employs two-factor authentication, utilising Aadhaar-based biometric authentication and OTP to the Aadhaar-linked phone number.
To enhance transaction capabilities, T-Wallet has introduced a Rupay virtual card that allows users to make payments for online purchases and services.
Regarding loading money, a full KYC account has a maximum wallet balance limit of `2 lakh at any given time. Money can be loaded through net banking, UPI, NEFT/IMPS inward, and credit and debit cards. The minimum transaction amount is set at `10, and the minimum amount for IMPS transfers to a bank account is `100. However, there are no restrictions on wallet-to-wallet transfers. T-Wallet offers a total of 1,054 services through 74 different departments, and the app has registered 15,000 merchants to enhance user convenience.
T-Wallet supports Telugu, Urdu and English languages. No service charges are imposed for using T-Wallet, which is co-branded and hosted by Transaction Analysts (TA), an RBI-licensed PPI operator.