This wallet will also give MobiKwik an access to millions of customers of the state-owned telecom company, The Economic Times.
The BSNL wallet will be a semi-closed wallet created to enable convenient payment and also to sell BSNL products exclusively in the wallet.
It will be developed, operated and issued by MobiKwik and distributed and marketed by BSNL.
The wallet firm currently has a customer base of over 55 million.
“The company has invested a few million dollars in developing and customising the app, but did not give the specific amount. He said that the user interface and design will be almost similar to MobiKwik’s own wallet app,” said Bipin Preet Singh, chief executive officer at MobiKwik.
Last year, MobiKwik had partnered with BSNL to facilitate bill payments through its own app. Users can still continue to pay BSNL bills through the MobiKwik app.
Post this new partnership, MobiKwik will also receive reseller rights, wherein the company will enable the digital sale of BSNL SIM cards through its app and website, and sell BSNL products exclusively in the wallet.
MobiKwik is currently in the process of raising a new round of funding of about $100 million, which is expected to close in a few weeks.