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Via launches direct money transfer facility in India

MUMBAI: has partnered with Prepaid Payment Instruments (PPIs) licence holders to launch its domestic money transfer (DMT) facility in India. It is offering these services through its network of partners/agents, who accept cash from customers and get it transferred directly to the bank accounts of beneficiaries using DMT services on VIA agent portal.

Sanjay Gupta, Business Head – India & Middle East, said that the recently launched service aimed to facilitate more income generating features for agents. “Users will now be able to make payments to any bank account of family and friends, shopkeepers by just visiting a VIA agent in the area and depositing the money with them. The facility is 24X7 and the beneficiary will receive the money in real time in his bank account,” he said.

As per the present DMT guidelines set by the Reserve Bank of India (RBI), a person can transfer up to INR 25,000 per month (by submitting their full KYC) in India. Currently VIA has 17,000 unique agents utilising the DMT services and does over 800,000 transactions a month in India.

Musafir Namah Bureau


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