Blog Post

Reliance Plans Money Transfer Service

Reliance Communications plans to tie-up with financial institutions to enable sending money orders via mobile mobile handsets, reports HT. The service, expected to be launched by the end of the year, will be called Mobile Money Order. Around 1.5 lakh retail outlets will serve as collection points. More on VAS services that Reliance is considering here.

In the past, Vodafone has been rather bullish on money transfers – they’d piloted a microfinance project in Kenya in 2003, and introduced money transfers thereafter. Doubts about how the transferred money would be accounted in India were raised earlier – if considered operator revenue, they would impact license fees. I’m wondering – are p2p direct money transfers allowed in India?

3 Responses to “Reliance Plans Money Transfer Service”

  1. Interesting development.. Just wondering about the collection points of 1.5 lac in number. i can only think of the Post office having so many points of presence..