The Hindu Business Line : Western Union in talks for mobile money transfer

Western Union, has tied up with the GSM Association (GSMA), a global trade association representing over 700 GSM mobile operators, to facilitate cross-border mobile money transfer services, a press release issued here today said.

Western Union and GSMA are developing a commercial and technical framework that mobile operators can use to deploy services that enable consumers to send and receive low-denomination, high frequency money transfers using their mobile phones.

The first commercial services that make use of the framework are likely to be rolled out beginning in the second quarter of 2008.

Simple, quick

Mobile money transfer services will make it simple, quick and affordable for more people to send small amounts of money through a conventional and regulated system.

Both Western Union and GSMA believe there is an opportunity to create and grow a large new market for low denomination transfers, the release said.

Thirty-five GSMA operators with more than 800 million customers in more than 100 countries are participating in the GSMA Mobile Money Transfer programme.

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