Financial Services - Bengaluru, Karnataka, India
Domestic Money Remittance (DMR)ConnectPayTMs' Domestic Money Remittance (DMR) service helps meet the huge demand among migrant workers in cities and towns in India who need to send money to their families in villages. Due to unavailability of any residence address proof in towns/cities, the mobile phone numbers of migrant workers become their account numbers. The Domestic Money Remittance market in India is valued at more than Rs. 1 lakh crore.A huge network of ConnectPayTMs' Agents in cities and towns act as collection agents for those that need to transfer money back to their villages. ConnectPayTM's proprietary software offers them a robust platform to record their transactions which transfers money through the IMPS and NEFT backbone of Banks to the beneficiary bank account in the villages.
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