Mobile money

If you think that money transfer or sending drafts is tedious, you can now use your mobile phones to send money to your loved ones.

The Global System for Mobile Association (GSM) has launched a new service called Mobile Money Transfer (MMT) which enables users to send money from anywhere in the world using SMS. Bharti Airtel has joined hands with SBI to launch a pilot programme that will eventually enable over 25 million Indians abroad to remit money to India through their mobile phones.

Source: iSource