Tata Indicom launches Mobile Fund Transfer in India
November 13th, 2009 by Kunal
Tata Indicom, in association with Corporation Bank and PayMate, have launched a unique mobile fund transfer service in India. The service will be executed using PayMate’s technology, Corporation Bank’s banking system and Tata’s PCO and TVS (True Value Shops) network. The service will be called “Green Money Transfer” as transactions will be carried out on one’s cellular phones.
The user would need to visit the nearest Green-registered Tata PCO or TVS outlet to authorise the sending or receiving of money upto Rs. 5000. This amount can be sent to anyone across India. Receipients are given a transaction code with which they can collect the money from their nearest Tata PCO or TVS outlet.
Lloyd Mathias, chief marketing officer, Tata Teleservices Ltd., said ,”The company has become the first private telecom operator to enter into such a unique partnership, which will bring a fantastic proposition for its customers.”
According to Ramesh Iyer, head-enterprise Business, Tata Teleservices, Maharashtra, “Mobiles enable banks to proliferate their services while opening up a new and innovative revenue stream for the telecom operators. They are offering an excellent micro banking solution to the end consumer especially in the rural areas and it is a win-win partnership for the industry and the economy at large.”
The service has been launched in Kerela and will be further expanded to other areas in the country.
[Green Money Transfer via TMCnet]
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Categories: Tech Industry News, mobile app | Tags: corporation bank, corporation bank tata indicom, green money transfer, mobile fund transfer india, paymate tata indicom, tata indicom
