India Post launches mobile money transfer scheme
A sender can visit the identified post office where the service is available, deposit the amount and present the receivers details in a prescribed format. After this, the sender would get a six digit transfer code on the mobile phone which have to be send to the receiver via SMS. Similar SMS will also be sent to the receiver and counter clerk automatically by the system. The recipient can claim the money at a nearby post office by showing the transaction code and verifying his identity. Recipient also needs to withdraw the money within seven days of transaction.