Tata Indicom has launched an ambitious project called ‘Green Money Transfer’ in association with Corporation Bank and PayMate technology. This will help the rural people to transfer money via the mobiles.
The new green Money Transfer service will use Tata’s PCO service and True Value Shop (TVS) network. PayMate has provided the technology to facilitate this service to be started first in the rural areas in Kerala.
For this technology, the customers have to register at a Green TATA PCO, TVS or with Corporation Bank. Then, they will be provided with an mPIN, which will authorise them to make necessary transactions. For example, on registration, the sender will receive a transaction code through the mobile. Then, the recipient has to verify the code given by the sender to receive the money from the sender.
According to the companies, Green Money transfer service is intended to provide effortless service to the rural people. Corporation Bank is hopeful that this person-to-person money transfer will enable the bank to supplement its business in the rural India. Recently, this Green Money Transfer facility has been launched in Kerala and it will be spread to other areas later.
‘Green Money Transfer’ Service Started In India
Tata Indicom has launched an ambitious project called ‘Green Money Transfer’ in association with Corporation Bank and PayMate technology. This will help the rural people to transfer money via the mobiles.
The new green Money Transfer service will use Tata’s PCO service and True Value Shop (TVS) network. PayMate has provided the technology to facilitate this service to be started first in the rural areas in Kerala.
For this technology, the customers have to register at a Green TATA PCO, TVS or with Corporation Bank. Then, they will be provided with an mPIN, which will authorise them to make necessary transactions. For example, on registration, the sender will receive a transaction code through the mobile. Then, the recipient has to verify the code given by the sender to receive the money from the sender.
According to the companies, Green Money transfer service is intended to provide effortless service to the rural people. Corporation Bank is hopeful that this person-to-person money transfer will enable the bank to supplement its business in the rural India. Recently, this Green Money Transfer facility has been launched in Kerala and it will be spread to other areas later.