Mobile Money Order: The Next Step in Improving the Efficiency of Indian Postal Money Order

SCIT Journal, Volume XI, ISSN 0974-5076

Posted: 6 Apr 2013

See all articles by Madhvi Sethi

Madhvi Sethi

Symbiosis International University - Symbiosis Institute of Business Management, Bengaluru

Ashok Singh

Independent

Date Written: August 1, 2011

Abstract

The growth of mobile banking in developing countries started capturing the attention of the researcher's business entrepreneurs, planners and governments for better utilization and extension of services to a large section of society. The research in mobile banking applications and its usability is growing very fast. The rapid transition and rollover of banks' branches towards core banking solution is yielding the transformation, evolution and integration of different entities to collaborate and integrate the business strategy on the various fronts such as micro finance institutions, postal services, insurance, telecom service providers etc. This paper is an attempt to study the mobile money order evolution, present status of Indian Postal Money Order, analyse the trend and suggest the approaches for increasing the efficiency of Indian Postal Money Order by using mobile banking as medium to integrate banking sectors with India Post. The proposed mobile money order for India Post would enhance the efficiency of present money order in terms of number of factors such as business growth, convenience, reduced transaction costs, social and economic developments and many more.

Keywords: Migrant remittances, Mobile Banking, Payment Systems, Money Orders, E-banking

JEL Classification: E59, G21, O16

Suggested Citation

Sethi, Madhvi and Singh, Ashok, Mobile Money Order: The Next Step in Improving the Efficiency of Indian Postal Money Order (August 1, 2011). SCIT Journal, Volume XI, ISSN 0974-5076, Available at SSRN: https://ssrn.com/abstract=2245520

Madhvi Sethi (Contact Author)

Symbiosis International University - Symbiosis Institute of Business Management, Bengaluru ( email )

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Bangalore, 560100
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Ashok Singh

Independent ( email )

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