February 20, 2007

India Tests Sending Money through Mobile Phones

rajasthani-people.jpg India's Bharti Airtel has joined hands with The GSM Association to launch a pilot program that will eventually enable over 25 million Indians abroad to remit money to India through their mobile phones. Cellular News reports.

"India is the biggest recipient of overseas remittances in the world at US$25 billion, accounting for around 10% of the world market. The remittances market is growing by 20% in India every year.

This program will enable global Indians to easily and securely send remittances to their dependents, many of whom don't have bank accounts."

emily | 8:12 AM | SMS and Banking | Add this this entry to your del.icio.us bookmarks. Digg This Technorati search results for this Entry
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