MOBILE MONEY TRANSFER FACILITY LAUNCHED

Instant Money Order from today

The long wait for postmen to deliver money order is over, at least for customers in southern districts of Tamil Nadu. In a bid to keep pace with private players, the Department of Post is simplifying the money order delivery system, by introducing Mobile Money Transfer (MMT) in selected circles from Saturday.

The system which was successfully implemented in 15 other Indian states including Kerala, will be available at 95 post offices in the southern districts of Tamil Nadu from Saturday. Of these select post offices 32 are in Madurai division. The public who want to use MMT can approach any of the select post offices and fill up a form to avail the service.

They have to give the full address and phone number of the recipient apart from providing the amount to be sent. Within few minutes, the sender and recipient would receive a confirmation SMS with transaction ID from the DOP. Besides, the sender would receive a secret code which he has to communicate to the recipient.

The recipient has to produce the confirmation SMS and secret code at a post office, where the facility is available. The postal assistant would pay the money once the system authenticates the transaction.

“Any person related to the recipient can receive the money producing the  mobile phone and the secret code, while the money order was delivered to the recipient only till now,” said an official.

A customer can transfer upto Rs.10,000 using MMT facility, the official said “While we charge five percent of amount as service charge fir money order, the MMT service is relatively cheaper”, he added.

“The postal department had earlier introduced Instant Money Order (IMO) service, where the sender had to communicate a 16 digit secret code to the recipient to claim the money. The recipient had to produce an ID proof to claim the money with code number. The service charge for IMO was higher than the MMT. This new service has made money transaction easier and besides the customer can transact multiple times in a single day.

Source : http://newindianexpress.com