Bharti Airtel Ltd has announced that in a first-of-its kind agreement, Bharti Airtel and Western Union have decided to jointly develop and pilot a Mobile Money Transfer service in India.
This pioneering agreement will usher in the possibility of sending money to India via the mobile phone. Western Union agents presently provide cash remittance services in India.
The mobile money transfer service is subject to regulatory approval. According to The World Bank, the number of immigrants globally is in the region of 200 million - approximately 3% of the worlds population.
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