Global Mobile Remittance Project In The Works

The GSM Association (GSMA) has planned a global money transfer platform that will enable remittances across mobile networks between the operators who intend to be party to this project, reports Business Standard. Ashok Juneja, Director, Bharti Airtel is co-ordinating the project in India, but there are regulatory issues involved regarding remittances, particularly related to KYC norms. Around 20 operators from across the globe are involved. The project – Emerging Markets Money Transfer Project – is expected to be launched in February, and the service is expected to be commercially launched in the next 12 months.