Remitap DMT – Domestic Money Transfer Platform Launched

KOCHI:
An Indian Fintech startup company based at Kochi Remitap fintech solutions launched Remitap DMT, the domestic money transfer platform, in Kerala. The app, developed in collaboration with Yes Bank and Kingrich Fintech is designed in a way that money can be transferred anywhere in India. The app will help migrant labourers to send money to their dear ones back home, Remitap founder Anil Sharma and co- founder Abhishek Sharma said during the launch.

At present, balance in a bank account or payment wallet is essential to transfer money using popular payment apps. It is estimated that there are around 60 Lakh migrant labourers in Kerala, who get their wages as cash. Most of them get cash on a daily basis or once a week and they have to go to the bank to send this money home. Most of these labourers lose a day’s work and wage as they have to bank. Remitap DMT is a solution for this. Remitap has appointed agencies super agencies at different places. Those who want to send money can go to the agency and hand over the money. Money will be transferred to the desired account on payment of reasonable charge.

Remitap opens up a means of income for small time merchants too, said Abhishek Sarma. Those who wish to work as the agency need to download Remitap from Google Play Store. A government ID proof is essential to complete registration and open the e-wallet. On completion of the registration process agents can start offering service to customers. each transaction is protected through 6 digit OTP. Money transferred will be instantly deposited to the customer’s bank account. There is also a facility in the app to check t if the transaction was successful. The app offers users cash back and other rewards.

Features such as payment of electricity, phone and internet bills, insurance premium, flight tickets, and transactions in foreign currencies will be added in future, a company spokesperson said. The company which upholds modern technology, safety, convenience, credibility, and support for customers has operations in Nepal also and is gearing up to launch operations in the US, Botswana, Canada and the UK.

The company will soon launch two more apps. Payzana and Remitrip. P C Asif, MD of Kingrich Fintech, an associate of Remitap Fintech Solutions associates, and directors Rabeesh Rahman and Mohammed Shabab were also present at the function.