Loop Mobile, one of the oldest mobile operators in India, has launched the Mobile Money service, which will let subscribers use their mobile phone as a virtual wallet. The service has been launched in partnership with ZipCash.
Subscribers of the mobile provider can use their mobile phones to pay for mobile and utility services such as electricity bills, prepaid recharges, DTH TV recharge, online shopping, movie tickets, etc. It is also possible to book travel tickets and avail gift vouchers and local deals. The company plans to extend the service to be used even at restaurants.
To activate this service, the subscriber must visit a Loop Mobile Gallery and register for the Mobile Money service by depositing cash, which will be available for use when using the mobile as a virtual wallet. Subscribers can get more details by sending an SMS with the word "Money" to 51888 (Toll-free). A customer care executive will call to explain the registration process.