SMS Money Transfer

What is it?

SMS Money Transfer allows user to send money to another person using standard text messaging in a secure fashion.

It can be used to pay bills, send a birthday present, as an alternative to cheques or to send money home (eg for ex-pats). and all it takes is to type an SMS with the amount and send it using the device’s address book. This means convenience for mobile subscribers and added value from an operator.

How does it work?

The following video provides a short demonstration on how money transfer works:

Subscriber A (sender) and subscriber B (receiver) have registered their phone numbers and have chosen a PIN.

Subscriber A wants to send €50 to subscriber B. He therefore composes a text message: “#Cash €50” and sends this message to subscriber B using his mobile’s built-in address book.

Anam’s Smart Services platform diverts this message to the #Cash Application Server for processing.

Subscriber A is then sent a text message with information to call an IVR.

The IVR reads out the transaction to subscriber A who then confirms the transaction is correct by entering their PIN.

€50 is debited from subscriber A’s bank account as a virtual ATM transaction.

€50 is credited to the bank account of subscriber B.

Subscriber B receives a text from subscriber A “I have paid you €50”

 

For more information please contact our sales department on +353 14830200 or email sales@anam.com