Mobile money transfer scheme gets poor response

TRICHY: The mobile money transfer service (MMTS) launched in Trichy in October this year has received a lukewarm response. 

Under the MMTS scheme, a minimum of Rs 1,000 and a maximum of Rs 10,000 can be sent in a single transaction. 

The Trichy region, stretching up to Cuddalore, caters to 3,561 post offices, but the postal region has carried out only 222 transactions till now, said R Raju, the region's business development and financial services manager on Monday. He said the office is yet to calculate the total amount transferred through the scheme. 

Partnered by BSNL, MMTS was initially launched in 103 post offices across the region. On Monday, the number of post offices was increased to 131, Raju said. Under the scheme, customers will have the facility to send money anywhere in the country through the designated post offices, where specially-designed mobile handsets with preinstalled mobile-money application will be delivered. 

The sender needs to visit the specified post office, where the service is available, deposit the amount and give the receiver's detail. The sender is given a six-digit transfer code on the cellphone, which should be sent to the recipient via SMS. The recipient of the transfer code gets the money at a nearby post office by showing the transaction code and getting his identity verified. The recipient needs to withdraw the money within seven days. The post department charges Rs 45 up to Rs 1500, Rs 79 up to Rs 5,000 and Rs 112 up to 10,000. Sources said they hope the scheme would pick up steam in the run up to elections.

Source : http://timesofindia.indiatimes.com