| The Marketplace and Business Potential |
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| Currently remittances to India are estimated at $28 billion per annum. While a majority of these transfers are carried out using traditional options like physical check via mail (with inordinate delay in clearing), wire transfers (expensive, difficult to track) and through exchange houses (an inconvenient option, involves cash), more customers worldwide are turning to online remittances as a preferred alternative. |
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| Reasons to choose Online Remittances over traditional methods: |
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It's Easy-to-Track: The status of the money from the initiation of the transaction till it is credited into the receiver's account is available on a “Status Tracker” online. |
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It's Secure: With a 3-tier architecture (Presentation Layer, Business Application Layer, Data Layer) and global security standards of 128-bit encryption, online remittances are as secure, if not more, as the next best alternative |
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It's Most Affordable: Online Remittances are the most cost-competitive cross-border transfer method today given that there is no infrastructure costs to be recovered. |
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It's Quick: The delivery time for Online Remittances range from Same-Day delivery to 4 working days – faster than most alternatives. |
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It can be Personalized: Allows one to send text messages to the receiver with the money - free of cost. |
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| Our Product Offering: |
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| A white-labeled money transfer service that can be customized as per your Brand and Logo and marketed to Non Resident Indians (NRIs) across the globe serving their money transfer needs. The product runs on proprietary technology developed by TimesofMoney and offers as a package all of the following: |
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Creation and maintenance of the technology platform for registration and order booking. |
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Customization of the basic product as a Branded offering. |
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Cash management tie-ups with best-in-class global partners to handle collection of funds in the sender's country and distribution of funds in India. |
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Compliance module catering to stringent KYC norms and regulatory framework in India and abroad. |
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Transaction processing (business operations) capability that adopts strict maker-checker norms and links with banks and vendors to ensure a smooth running business. |
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Customer Service support through multiple touch points – email, chat and toll free inbound calls. |
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| Benefit for Alliances: |
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Launch your own unique state-of-the-art remittance service. |
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Acquire new customers from the 30 million strong NRI population. |
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Retain existing customers who would otherwise adopt a competitor's service to satisfy his remittance needs. |
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Add new revenue stream to your business. |
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