Eight years on, T Wallet logs 4 crore transactions

Hyderabad: India’s first state-managed digital wallet, T Wallet, has reached 16 lakh registered users and processed over 4 crore transactions in its eight-year journey since its launch in 2017, the Telangana government’s Electronic Service Delivery (ESD) wing under the ITE&C Department announced on Thursday.

Introduced during demonetization in 2016, T Wallet continues to drive digital payments across the state.

The wallet enables a range of services, including IMPS-based real-time bank transfers, utility bill payments, service fee payments, and merchant transactions.

T Wallet is integrated with MeeSeva’s 4,500+ centres and 11,000+ Fair Price Shops, ensuring accessibility in remote and rural areas, with options for citizens to use it via mobile app, web, or assisted services for those without mobile access.

Launched on June 1, 2017, T Wallet was a pioneering response to the 2016 demonetisation, aiming to promote cashless transactions in Telangana. Its flagship Immediate Payment Service (IMPS) feature allows direct bank account transfers, setting it apart from traditional wallets that rely on peer-to-peer transactions or UPI, and offering 24/7 availability for seamless banking integration.

The ITE&C Department emphasised T Wallet’s role in enhancing financial inclusion, particularly in underserved regions, with its growth over eight years underscoring its importance as a state-led digital payment solution for Telangana’s citizens.