These days Sending and receiving money is a very easy affair by virtue of the available methodologies worldwide:
Paypal is the biggest money mover in online world. However it has hit a road block in India due to security concerns and now with in India, you have verify your Pan card and amount received in your account is auto credited in your account on next subsequent day.
Western Union has the ability to send money from person to person across the globe without referencing a bank.
Kenya mobile payment M-pesa, is showing ways to the world that how money can be transferred online as online payment through mobile phones has become a common feature and that is the reason probably Airtel Money and Nokia Money has taken a leaf from it and have started their services in India.
Procedure for Money Transfer through Mobiles
It is a simple procedure by virtue of which money is fed into a mobile phone like a topping up a pre-paid card. Money is then transferred to another person using an SMS and it appears cards will get replaced by mobiles.
