Domestic Money Transfer Service (DMTS) with IMPS technology is one of the most demanding services today in India. Become DMTS agent/retailer to remit money in behalf of your customers. Since India is world’s 2nd largest country by population. Most of the people are still not connected with bank. The density of banks in rural or semi urban area is still very low. If a person goes to the bank for depositing/transferring fund to his friend/family/else, he has to spend long time and need to wait in queue. This is why people prefer to visit DMTS agent/retailer for fund transfer.
Make your own money transfer website. White Label Software/API for making b2b portal. Create distributors & Agents/Retailers.
Best features (For Customers):
- Instant Fund Transfer: IMPS technology enables instant fund transfer to any bank anytime (24×7) including Sunday or bank holidays.
- No Documents: No documents require (Identity proof or Address proof) for opening account or transferring fund. You just need a mobile number for registration and authentication.
- Easy & Convenient: You just need to reach any nearest retailer instead of searching or waiting for queue. Retailers can assist for transfer fund instantly to the beneficiary.
- Save your time: You can approach your retailer as per your convenience or call him for assistance. You can save your precious time and not to wonder for searching bank.
How to start your own portal:
- Money Transfer API: Get money transfer api to make your own remittance portal. It can help you to get start your own portal for domestic money transfer service.
- White Label Solution: We have developed 5th generation of white label solution to provide you better and convenient way to start your own brand portal. It is a ready software solution with enhanced admin feature and applications.
- Software development: Make your own software for starting money transfer or mobile recharge website. Check our b2b software having different levels (Agent/Retailer, Distributor) and white label feature to boost your business.
API based White Label:
OSPL offers b2b white label money transfer website. It is a ready solution to launch your money transfer and mobile recharge website. You can create distributor and retailers. Easy tools to manage services and users. Enhanced admin features to manage your website without any programming skill.
Basic Terms and Information
- White Label: A white label user can create distributors & retailers. He can manage his site and services.
- Distributor: Distributors can create retailers and manage services as well as credits.
- Retailer: Retailers are the Outlets which assists customers to create their wallet and remittance. The whole remittance process is initiated by retailers in behalf of their customers.
- Customer: Anyone who uses the services through these outlets is customer. Customer can create their wallet to transfer fund to their friends, family or else.
- Wallet: It is similar to bank account which enables customer/retailer to remit fund to beneficiary. No KYC required for creating these wallets. A non-kyc wallet has a remittance limit of 10,000 per month and 5000 per transaction.
- Beneficiary: One who receive fund is called beneficiary. Customer can add beneficiary to his wallet before remittance. For adding beneficiary to the wallet, customer requires bank account name, account number and ifsc code. Beneficiary will get alert by sms from his bank for every successful remittance.
- OTC: It is a one-time code comes through message to customer’s mobile for validating the request.
- IMPS: Immediate Payment Service enables (24×7) instant payment. Customer can transfer fund anytime including Sunday or other holiday.
- Service Charge: Customer has to pay service charge for using money transfer service to retailer.
- Commission: Retailer will get commission for every successful remittance.
- Alert: Customer and beneficiary both receive alerts for transactions. If transaction fails by any reason then customer will again receive alert why his transaction get failed.
- Failed Transaction: Sometime transaction get fails because some reasons (Wrong account number/ifsc code, Beneficiary server issue). Amount for the failed transactions is instantly re-credited to customer’s wallet. He can re-initiate the same transaction or transfer amount to a new beneficiary.