04:57 am - Monday 21 April 2014

DoP and BSNL partners to launch ‘Mobile Money Transfer Service’

By Parvina Purkayastha - Thu Nov 15, 3:10 pm

Minister of Communications and information technology Kapil Sibal launched “Mobile Money Tranfer” service of India Post between Delhi and Kerala. Department of Posts (DoP) and Bharat Sanchar Nigam Ltd (BSNL) have joined hands to launch this exclusive service.

While launching the service, Sibal said, “India is among the few leading nations, where tele-density has increased at a very fast pace. Mobile Money transfer service is first of its kind in India and targets largely the migrant people, who are working away from their families. It enables instant transfer of money on the mobile through SMS. Also, this service synergises large number of Points of Presence (POPs) of DoP and vast spread of mobile network of BSNL to serve the common man“.

This service enables immediate ‘money transfer‘ from one person to another through post offices using mobile phones. The postal assistants use the mobile phone and technology provided by BSNL. The sender and recipient customer can have mobile number of any Telecom operator.

At present, this service is enabled at 18 post offices each at Delhi, kerela, Punjab and Bihar Postal circles which cover 12 cities in Punjab, 14 in Kerela, Delhi and 15 cities in Bihar.

In this service, money is accepted(Cash-in) from sender customers by Post office assistant (POA) at originating post office and the money is sent to the recipient’s mobile number by the postal assistant. The sender customer and recipient customer immediately get SMS of ‘money transfer’ on their mobile phone. The sender customer also gets a secret code on his/her mobile for this transaction, which he/she has to inform to the recipient customer. With the transaction-id and secret code the recipient customer can immediately walk in the nearest post office, enabled for this service and can claim money.

Ms Manjula Prasher, Secretary DoP said, “The service would be instantaneous in nature and customers not having facility of electronic money transfer would definitely like to use this facility. The DoP has kept the service tariff competitive. The service shall be initially available in Delhi, Kerala, Bihar and Punjab Circles and will be expanded to other Postal Circles in due course of time”.

For Cash-out, the destination post office assistant takes the transaction-id and secret code from the customer and verifies the authenticity with the central server using BSNL given mobile phone. If transaction is authenticated to be OK by the central server, he/she hands over the money to the recipient customer.

CMD BSNL, R. K. Upadhyay said, “BSNL is committed to provide the latest and innovative value added services at par with  and ahead of competition. In order to give boost to government’s commitment towards financial   inclusion, BSNL is bringing global technology to provide this innovative service by having a tie up with DoP. Launch of Mobile Transfer Service of India Post in collaboration with BSNL will prove to be very useful srvice for “AAm AADMI”. Reach of BSNL Telecom network and presence of branch post offices in rural and remote areas will make it readily accessile with most affordable.”

Range Service Tariff (Including Service Tax)
Rs. 1000/- to Rs. 1500/- Rs. 45/-
Rs. 1501/- to Rs. 5000/- Rs. 79/-
Rs. 5001/- to Rs. 10000/- Rs. 112/-

Along with the praises for the product, Sibal said it is important for us to criticise the invention pointing out at the transactional costs. He precisely showed his concern for the BPL section of the society wherein he suggested  to completely remove the extra cost for this section of the society. Opening a bank account is still feasible if they don’t work out with additional costs associated with the transfer. If they lower the cost of transactions the product will be popular.

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