With mobile banking becoming a regular feature of our lives, it was only a matter of time before a money transfer service was made possible. So, Bharti Airtel and Western Union have got into the act of jointly developing a pilot Mobile Money Transfer service in India, which will enable people to send money to India via a mobile phone. Of course, the Mobile Money Transfer service is strict subject to regulatory approval.

In India, Western Union operates through 45,000 Agent locations, including 8,500 post offices and more than 14,000 bank branches across 5,000 towns and cities. This program will enable Indians living abroad to send remittances to their families in India in an easy and convenient fashion through the vast networks of both companies.

But many of those living abroad (especially with families back home) will be happy to know about this development, as it will simplify the process of sending over funds. It will also bring a lot of joy to ageing parents with sons and daughters living abroad.

"We are delighted to work with Western Union in this path-breaking initiative and be at the forefront of enabling international remittance over mobile for our 50 million mobile phone customers in India. This will help us move money via mobile in a fast and convenient way, supporting low-value transactions," said Gopal Vittal, director marketing and communications, Bharti Airtel Limited.

"Our association with Bharti Airtel for the Mobile Money Transfer service is an important step in expanding the range of Western Union global services to a new category of consumers across the world," said Matt Dill, General Manager, Western Union Mobile. "This is a very exciting development, especially given the expanse and reach of mobile services in the Indian subcontinent."

The relationship with Bharti Airtel follows an agreement between Western Union and the GSM Association (GSMA), a global trade association representing over 700 GSM mobile phone operators, to facilitate the development of cross-border mobile money transfer services.

Via Tech2