MOBILE MONEY TRANSFER SERVICE

Near about one year ago department of post launched a new service in the field of money transfer inside India called mobile money transfer service to capture its money order market again which has been trimmed by banking service using ATMS. The concept was that having very huge network of near about 150000 post offices the market can be captured and DOP can be leader of money transfer inside the country.For achieving this target a new mobile device was launched with the cooperation of BSNL .

But the target could not be achieved the shortcomings of the scheme was that the devices was made available to urban areas which are already flooded with plenty of ATMS so who would like to spend his precious time to visit a post office secondly the money order service is mostly used for remote rural areas so to capture such areas MMTS devices should be made available to branch post masters to get the target but no efforts was made to do so and the postmasters of urban areas was forced to get transaction from public which was not interested due to good banking services in such areas thirdly the service of BSNL is very poor in respect of connectivity the device takes near about 10 minutes to connect so in rural areas where signal is a big problem the success of MMTS is under question,fourthly the accounting procedure of paper work is added forcefully in such transaction while there was no use of such things as the BSNL was chewing a bigger proportion of commission so there was no need of such procedure and the whole procedure should be made paperless and the responsibility of all disputes should be handed over to BSNL because using all old procedure with the device why should we pay to BSNL.
Doubtlessly the MMTS service is very good and if the department launches it again and connectivity issue is short out by the partner and the device is made available to each branch post office it can write the new story of success .