Reliance To Introduce Money Transfer Through Mobile

[Arun 795]

Press Trust Of India

New Delhi, August 05, 2007

Reliance mobile users will soon be able to send money orders through their handsets, with the company exploring tie-ups with financial institutions for the service that will see its about 1.5 lakh retail outlets doubling as collection points.

"We will launch a new service -- Mobile Money Order in Reliance mobiles, which will enable people to send and receive money through their handsets. About 1.5 lakh retail outlets of the company will act as collection points," Reliance Communications President (Applications, Solutions and Content Group) Mahesh Prasad told PTI.

The service is expected to be launched by the year end, he said, adding: "We are closely working with financial institutions and banks for introducing this service."

Reliance has a mobile subscriber base of over 31 million.

With this, the company is aiming to capture a significant market share in the Rs 5,000 crore Value-Added Service (VAS) industry.

"VAS currently contributes 10-15 per cent of the service providers revenues. The market for VAS is expected to reach Rs 5,000 crore by this year end from Rs 2,750 crore last year," Prasad said.

The company is also looking at various other verticals such as finance, e-medicine and advisory services among others for introducing VAS on its mobile network.

He said we are evaluating the possibility of developing regional content such as something that would be of interest to a farmer like prices of agri items at the local market.

VAS in the financial space may include information on loans, insurance schemes and collection of premium. Through e-medicine, customers in the rural areas would be able to locate primary medical centres and details of visiting doctors specific to their village.

[HetalDP 947]

What a Big Deal in it.

I am doing this from last 3 year on WAP on Idea

[Honest 836]

^^^

Let the Reliance customers also be benefited by this my dear friend. But all subscribers beware, after all its "RELIANCE".

We all know on our prepaid mobiles sometimes they deduct amount without our prior confirmation or as wrong charges. Only God knows what will happen to those moneyorders / money transfers in the near future.

Regards.

[ani_meher 42]

yep. i don't think i can trust reliance r-world for transferring my money, or for that matter, even enter my bank account thru them. those great people are still confused about call charges, what help are they going to offer for technical mistakes in money transfer???

for people who think it's useful, pls think twice n if u have no other options, make sure u pray to ur god first.