Money transfer service is one of the most demanding services today in India. The online money transfer business or the money transfer agency provides huge earning potential in terms of commissions earned on domestic as well as international money transfer. As a proxy indicator of the size of the domestic remittance market, India Post alone handled 96 million money orders last year.
Domestic Money Transfer API You can provide the following to your customers using Money Transfer Service:
• Domestic Money transfers powered by IMPS(Immediate Payment Service)
• Online money transfer to any Bank account anywhere in India
• Service available on all days including on National and Bank Holidays
• Transfer money to all Banks using NEFT
• Extended banking hours for transactions for Customers
• Through NEFT more banks are connected for money transfer.
• The features are Wallet to bank (any) money transfer (using MMID), Wallet to bank (any) (using IFSC & bank account number), Wallet to Wallet money transfer, any bank to Wallet.
• Wallet holder can use IFSC and bank A/C number to transfer money to more than 70 Banks.