Faster Tansfer

2 days back I was asked by a friend to transfer a little amount to his account for an emergency Problem he faced.
I was in a conference and his account no was also not added as a beneficiary .
However I could have added his account no. but it would take 16 hrs approx. for NEFT TRANSFER.
I couldn’t go out also to make CARD TO CARD transaction and I was helpless.
Hope he hasn’t misunderstood me. But then I was looking for faster money transfer option and I found an alternative option recently.(may be others also know that)
Its called Inter bank Mobile Payment service.
You can transfer the funds thru
A) SMS b)Mobile App
B) Mobile App
You need to have is UNIQUE ID called MMID for both the both parties
MMID can be obtained from ATM BY selecting IMPS option ->mobile Registration and providing ur mobile number.
You don’t need to add beneficiary .
If you are using Mobile App u have to choose transfer funder option->
Enter the MMID and mobile no. of the payee.
Enter the amount and MPIN and submit.
Money will be transferred instantaneously. Within a minute.
Well. If you are using SMS based service u don’t even need GPRS. Moreover these services do not take account no. as input.
Bank details which make use of this service are listed in this link
People who have already used it can provide more info on this.
It definitely will make transfer of fund faster and no rocket science is required here.