CONTACT System Money Transfer send to mWallet

CONTACT System provides Money Transfer services in Russia and CIS.


Link to external site : Website for CONTACT System Money Transfer send to mWallet
CONTACT System Money Transfer send to mWallet
Brand
Launched in
Status
Launch
Importance
Traction
Evaluation
Account Type
Business Model
Hub for financial institutions across Russia and CIS
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Class
Send Services Receive

Location


Cash

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DMT

IMT
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Cash


Location

Model
non-bank based
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Who Leads?
third party led
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Reach
Active Users
Registered Users
Potential Mobile Market (m)
Regulations

In accordance with the Russian legislation:

- On the territory of the Russian Federation money transfers are made in rubles only. Amount of money transfer is not limited.

- Money transfer from and to Russian Federation could be made in US dollars, Euros and rubles.

- Russian residents are allowed to remit not more than $5000 or its equivalent in Euros or rubles per day. For foreigners there are no limits.

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Persona
Purpose
Active Services
Card Type
ServicesDescription
Channels
Payment Instruments
Cash I/O Description
Cash I/O No Of Locations
Handsets
Technologies
Interoperability
RegistrationProcess

SEND PROCESS:

- Apply to the nearest bank-participant of the CONTACT network and choose a country, city and bank/company where money will be paid out to recipient

- Present passport or another valid identification document

- Fill in the application form, get a unique transfer number and pay principal amount and commission in cash

- Inform recipient about unique transfer number, city and address of the bank

- The transfer will be paid out without any additional commission

- There is no limit on the sum of transfer

RECEIVE PROCESS:

Receiver must obtain information from the sender including:

- The name and address of the bank where they can receive money

- A unique transfer number

- Amount of the transfer

They then apply to the bank at its working hours, present a valid identification document and receive the full amount of money transfer without paying any fees.

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Main Segment Migrants
Segment Description

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