Bharti Airtel, India''s largest telco by revenues and subscribers, launched its mobile wallet service Airtel Money in Delhi NCR on Wednesday, a company official said.

The telco plans to raise the upper threshold to Rs 50,000 within two months, Airtel's m-commerce services chief operating officer Sriram Jagannathan.

Bharti Airtel's scrip rose to 1.95% on BSE, closing at Rs 381.45 on Wednesday.

The service would be available to more than 8 million customers in Delhi, Noida, Ghaziabad and Faridabad and will be rolled out in the country in a phased manner.

The telco has tied up with more than 3,000 merchants so far including local chemists, grocery stores and utility providers like BSES Yamuna and Indraprastha Gas . Earlier this year, the service was launched in Gurgaon and Chennai on a pilot basis. Customers can fill their mobile wallet by going to the nearest Airtel retail outlet.

Last year, Airtel's m-commerce service got a licence to use semi-closed wallet by the Reserve Bank of India.