Money transfer refers to one of the following cashless modes of payment or payment systems:
- Electronic funds transfer, an umbrella term mostly used for bank card-based payments
- Wire transfer, an international expedited bank-to-bank funds transfer
- Giro, also known as direct deposit
- Money order, transfer by postal cheque, money gram or others
It can also refer to the following cash-based wire transfer systems:
- al-Barakat, an informal money transfer system originating in the Arab world
- Hawala (also known as hundi), an informal system primarily used to send money to and from the Middle East, North Africa, the Horn of Africa, and India, Pakistan, Bangladesh and Nepal
- Remittance, a transfer of money by a foreign worker to his or her home country
- Currency exchange, transfer for of one currency to another
Digital India CSP has tied up with National Payments Corporation of India(NPCI) to enable Money Transfer Service through Digital India CSP mobile wallet, Digital India CSP Wallet, which is India’s First Non Bank wallet (approved by RBI), to make Instant money transfers to any bank. Send/receive funds through the Digital India CSP Wallet to/from any bank, anytime, anywhere, 24*7!
This is a boon to the unbanked masses of India, making money transfer instant and on real time using IMPS and is connected to 100+ Banks. This Service is available online, through Mobile app as well as through a simple SMS.
Through NEFT 170+ banks are connected to Digital India CSP platform for money transfer.
Digital India CSP Money Transfer features include money transfer from Wallet to bank (any) using MMID, Wallet to bank (any) using IFSC & bank account number, Wallet to Wallet money transfer and any bank to Wallet money transfer.
India’s population who has till now been unable to avail mainstream financial services due to stringent bank account opening and Know Your Customer (KYC) documentation procedure can now transfer and receive funds from Digital India CSP Mobile Wallet to any bank account, any bank account to Digital India CSP Mobile Wallet as well as Wallet to Wallet Money transfer.
Now any one, be it a migrant worker or a college student away from home, can send and receive money in a jiffy. So far no wallet in the world has been able to provide these 360 degree solutions.
Taking its services further for wider reach, Digital India CSP has already crossed the Indian Boundary to reach out to Non Resident Indians and Migrant Indian Workers worldwide.
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Digital India CSP Pvt.Ltd.
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