In today’s world, most of us prefer to transfer money from the comfort of our home. This has been possible with the advent of payment apps like Google Pay, PhonePe, etc. The fact that money is credited instantly in the account of the beneficiary makes it a convenient option.
Given the fact that payment apps like Google Pay and PhonePe need an internet connection to transfer funds, the instant mobile money order service via SMS was launched in April 2015. A company named MoneyOnMobile was the first to launch the service in India. The service was made available for basic mobile phones and smartphones.
The area where MoneyOnMobile scores over other payment apps is that you can transfer money without needing a data-enabled phone. To send money to someone using MoneyOnMobile, all we need is to know the IFSC code of the bank branch with whom the beneficiary has his/her account.
Funds can be transferred through MoneyOnMobile using three different modes. They are –
- Mobile application
- Web portal
How to register for MoneyOnMobile?
As mentioned earlier, MoneyOnMobile is available in three different modes. So, when it comes to registering, the process is different for each one of the modes.
- SMS: To activate SMS services on the app, you will need to send an SMS to the authorities.
- Mobile Application: If you intend to use the mobile application, you will need to:
- First, download the app from Google Play Store.
- Following installation, you need to open the app and provide the mobile number.
- Next, you need to set up your profile.
- Once that is done you need to click ‘Submit’.
- Web Portal: To register for the web portal, you need to follow the same process as the one mentioned for mobile application.
Using MoneyOnMobile enables you to avail certain benefits. Let’s take a look at them:
- You can transfer money to anyone be it friends or family at any given time of the day.
- Funds can be transferred from a basic phone as well as a smartphone.
- MoneyOnMobile is transparent and facilitates paperless money transactions.
- You can buy two-wheeler insurance.
- Enables you to pay utility bills.
- The app can be used to pay for mobile top-ups and recharging DTH services.
- You can book flight, train and bus tickets.
- Goods and services from registered users on the platform can be bought using MoneyOnMobile.
- The application is laced with multi-lingual capability.