Telangana IT dept reduces transaction charges on T-Wallet

For promoting cashless economy, Telangana’s Information Technology Department has reduced the transactional charges levied on T-Wallet.

This initiative was taken to make way for a newly launched payment gateway player and encourage people more people to use the app.

Soon after its launch, the review section of T-Wallet at Google Playstore was flooded with user complaints pertaining to transaction charges.

Unlike its commercial competitors, the T-Wallet charged users for transferring money from bank to wallet. The app was launched to enable digital payments to various government services.

 “The T-Wallet is compared with commercial wallets that are heavily funded and can absorb the transaction costs,” said G T Venkateshwar Rao, Managing Director, Telangana State Technology Services (TSTS) and MeeSeva.

“People felt the payment gateway charges of T Wallet was slightly on the higher side, we have brought in a new payment gateway player,” he added.

 “It will be the cheapest in the industry as it is government backed. We were at one point thinking if we should absorb the costs now we have burdened the cost to the payment gateway, we now feel we too can absorb the costs,” said Rao.

The app was developed and is run by Transaction Analysts, a Bangalore-based private firm. The company was one of the two firms shortlisted by the National Institute of Smart Governance to develop T-Wallet.

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the NBFCs and Insurance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.