Go slow on mobile wallet

MOBILE TRANSACTIONS: A LOWDOWN These require you to download an app from the bank’s website
What you are charged
Transactions	Charges
Bill payments	Rs 10
Travel ticket booking amount	1 per cent of transaction (maximum Rs 50)
Movie ticket booking	Free (introductory offer)
Fund transfer to Airtel Money customer	Rs 5 up to Rs 500, Rs 10 thereafter
Fund transfer to a bank account	2 per cent of transaction amount (minimum Rs 10)
Charges applicable only for Airtel Money. Banks charge normal internet/SMS charges
Drawbacks of mobile wallet
Security is an issue as softwares can track down passwords Disruption in mobile phone network could interrupt transaction There could be a risk of virus attack Mobile wallet cannot be used at all merchant outlets Merchant outlets charge a percentage of the transaction amount as service charge

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