You are here: Home » Technology » News » Apps
Business Standard

RCom arm eyes inter-bank money transfer on mobile

BS Reporter  |  Mumbai 

The company has initiated talks with mobile operators and banks for the project that will enable money transfer from over 110 countries.

This follows a similar move by mobile services provider Idea Cellular last week, with the company announcing a pilot project to facilitate money transfer over mobile phones.

The Aditya Birla group company had joined hands with Tata Communications and UAE-based service operator Etisalat for the project.

Reliance Globalcom is planning to cover 37 countries including the US, Canada, Europe, West Asia and India in first phase of setting up the global backbone. This would be extended to cover a total of 110 countries in the second phase, sources close to the development said.

However, when contacted, a Reliance Globalcom spokesperson declined to comment on the development.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, May 12 2008. 00:00 IST