Hyderabad: Telangana’s digital payment system, T Wallet, now has 1.6 million users and has handled over 40 million transactions since its debut in 2017. This news was shared by the state’s Electronic Service Delivery (ESD) under the ITE&C Department.
Launched during the demonetization period in 2016, T Wallet has been a key tool for digital payments in the state. It offers various services like real-time bank transfers, paying utility bills, service fees, and conducting merchant transactions.
The wallet connects with over 4,500 MeeSeva centers and 11,000 Fair Price Shops, making it accessible even in remote areas. Users can access it through a mobile app, website, or assisted services for those without mobile devices.
Introduced on June 1, 2017, T Wallet aimed to boost cashless transactions after the 2016 demonetization. Its standout feature, the Immediate Payment Service (IMPS), allows direct bank transfers, unlike traditional wallets that rely on peer-to-peer or UPI transactions, offering round-the-clock banking access.
The ITE&C Department highlighted T Wallet’s contribution to financial inclusion, especially in underserved areas, marking its growth as a significant digital payment tool for the people of Telangana.
