Tata Teleservices today announced a partnership with Corporation Bank and PayMate to launch a mobile money transfer service in the next 12 months.
The service, called ‘Green Money Transfer’, would enable any mobile phone user to send or receive money instantly using their handsets to authorise the transfer.
To initiate a transfer, a customer needs to visit the nearest registered TATA PCO or True Value Shop (TVS) and place a request for money remittance of up to Rs 5,000 to any person anywhere in the country.
The money then can be collected from the registered outlets with a transaction authorisation code received from the sender.
The facility has been launched on a pilot basis in Kerala.
TTSL Chief Marketing Officer Lloyd Mathias said the company hoped to extend more such m-commerce solutions to its customers.
