T-Wallet withstands competition from top apps

To enhance transaction capabilities, T-Wallet has introduced a Rupay virtual card that allows users to make payments for online purchases and services. 
Image used for representational purpose only. (File Photo)
Image used for representational purpose only. (File Photo)

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.

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