Domestic Money Remittance

Need of transfering money can arise at anytime and most often during non banking hours. Payworld Money Transfer allows you to send money instantly beyond banking hours to any IMPS & NEFT supported bank in India. The sender can send money through any Payworld retail outlet across India with ease. The money sent to the beneficiary is credited to their bank account within 10 seconds. These transactions done by customers are processed with highly secured servers. Customers can pay the transaction amount to the retailers through any mode. Payworld facilitates money remittance as per RBI approved guidelines and PPI & Banking Correspondent licence holder.

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FAQs

1. What is a money transfer agent?
In earlier times, the procedure of transferring money from one place to another was very complicated and troublesome. People used to stand in long queues for many hours and wait for their turns to transfer money to distinct locations. With the introduction of various money transfer services, the whole process of doing your money transactions has become very easy and instant. Now people are able to transfer money within minutes from one place to another. A money transfer agent/retailer is a professional who deals with the services of money remittances and makes the money transfer business convenient for his/her customers. If you are wondering about how to become a money transfer agent and what exactly is the job of a money transfer agent, then the answer is simple. A money transfer agent is a professional who is appointed by a regulated corporation to monitor all the money transactions of an investor and also to keep a track on the investor's account balance. The job specifications of a money transfer retailer also include maintaining records of investor's transactions. If you are someone who is interested in this field and want to become a money transfer agent, then the business guarantees huge profits and also promises a high commission on money transfer. With Payworld India, you can easily become a money transfer distributor with very low investment on your end. Our company allows retailers/agents to transfer money quickly and easily to any location. We make sure to provide our money transfer retailers with the most affordable, most secured and most reliable services for money transfer. If you want to become a money transfer agent with Payworld, then your career will be bigger and more profitable as our company allows career opportunities to small and medium-sized businessmen, young individuals, merchants and agents. At Payworld, you can earn a great amount of money transfer commission by simply obtaining a money transfer agent license from our company.
2. How to become a money transfer agent, and what is the eligibility criteria?
With Payworld India, you can easily become a money transfer retailer by investing a very low amount in your business. Payworld India provides all the support required for helping an individual start their money transfer agent, and facilitates procurement of a money transfer license, as well as completing the money transfer agent registration. Following this step, our sales executive will reach you instantly and proceed with the further steps of becoming a money transfer retailer, or you may call it a money transfer distributor. The eligibility criteria for an individual to become a money transfer agent is quite simple and is mentioned below. 1) He/she must be a citizen of India 2) He/she must have completed 18 years of age before they apply for the money transfer agent registration. 3) He /She should have valid ID & Address Proof along with shop address proof. There is no additional or specialized qualification necessary for someone who wants to become a money transfer agent and acquire a money transfer agent license for the same. It also helps those individuals who are looking for an opportunity to earn extra income as Payworld guarantees high commission on money transfer to their agents. Thus, there are very basic requirements for an individual to receive a money transfer license.
3. What are the benefits of becoming a money transfer agent?
There are various benefits and pros that are associated with becoming a money transfer agent. If you are thinking about all the benefits and want to know every detail of how to become a money transfer agent, then the below-stated points will be of great help to you. In simple words, a money transfer agent is a person who does cashless transactions on behalf of his/her clients in a seamless and safer manner. Commencing your business with money transfer services can give you excellent profits. Also, the money transfer agent commission is supremely high, and you can enjoy all these benefits by easily obtaining a money transfer registration from Payworld. Here are some of the benefits of becoming a money transfer agent- 1) High earning of commission on money transfer: A money transfer agent can earn good money with this job that can be utilized to fulfil the daily requirements as well as save money for future use. Also, you can earn a great amount of money transfer agent commission without much trouble. Thus this will enhance your money transfer business. 2) Very low investment: There is no need to make a huge amount of investment for one to become a money transfer agent. It's simple to commence your own money transfer business at low cost, which can be earned easily. 3) Simple process to become an agent: It is a very simple and straightforward method to become a money transfer agent. All you need is:
  1. a) A valid Personal ID, Personal Address Proof & Shop Address Proof.
  2. b) He/she must have completed 18 years of age before they apply for the money transfer agent registration.
4) Easy to execute a transaction: Money transfer has become very simple with easy to access services. There is no requirement of high equipment or complex machines for the process. A money transfer agent can make use of a simple app to make all the transfers either through web or mobile device.  5) Complete training and development: A money transfer agent will be provided with complete training and support, which will help them to focus more on the money transfer business and also to earn good monthly income.
4. What are all the benefits offered at Payworld?
The numerous benefits that are offered at Payworld are mentioned below. These are: 1) Quick and easy money transfer: Payworld ensures the money transactions from one place to another in a very quick and secured manner. 2) Excellent class margins: The class margins offered at Payworld are the best in the market 3) Instant KYC process for senders: KYC also referred to as "Know Your Customer", is a process by which banks obtain personal and authentic information of their clients/customers. Payworld provides an instant KYC process for all its senders. 4) User-friendly money transfer platform: It is a very simple and safe money transfer platform that ensures secured payments and takes no time in the process.
5. How does the Payworld commission structure work for retailers?
Payworld is an excellent and income-generating platform where you can commence your career by investing a very little amount for it. Our company enables our users to start their business by investing the lowest amount possible, that is Rs.1000. However, the amount varies for every service and business, but we firmly believe in earning more by investing less. Today, the entry of online business is much easier and time-friendly than the traditional business. Payworld ensures smooth functioning of your online business by eliminating all kinds of uncertainties and risks, by making online money transactions safer and secured and by removing all the complexities of a business. You can easily become a money transfer agent with Payworld that allows seamless and easy transactions of money from one person to another. In order to become a money transfer retailer, you have to submit a little amount of activation fee to our company and then avail all the service benefits associated with it. You can also use various digital payment methods for your cash transactions like Debit Card, Net Banking, etc. Being a money transfer agent, you would be able to handle and monitor all the money transactions of your investors, maintain your investor's account and handle all the problems of your investor. If you are a money transfer retailer at Payworld, then every time a customer uses Payworld services through your portal, you will also earn a commission on that. The commission structure is different for every service, but it guarantees high commission and profits to every retailer that is associated with Payworld. The number of commissions significantly depends on the number of transactions you make on behalf of your customers. For example, whenever a customer asks for a transaction of Rs. 100 through your agent portal, Payworld will provide you with a commission of approximately 1% on that particular transaction. So with every money transfer, you will be able to earn around 50 paise to Rs. 1.There is a commission on every transaction made. Hence, to increase your commission as a retailer, you have to perform a lot of cash transactions through your registered portal. Kindly note there is a fixed service charge of 1% inclusive GST which is to be charged by money transfer agent in all respects as per Banking Correspondent guidelines and the same is to be governed time to time as per changes in the same guidelines, this is to be clearly informed to the customer before taking a transaction.
6. Tell me more about Payworld India.
Started with an objective to provide a protected and user-friendly platform for the countless end users that comprise the Semi-Urban India, Payworld is actually a pioneering financial assistance platform. Having started its business back in 2006, the Fintech enterprise has established its position by having a remarkable community of over 250,000 retailers. Covering up 630 of the 739 zones in India, the Payworld network is unparalleled in the country. As imposing as the system may seem, the bouquet of products and services available by Payworld is much more excellent. From Mobile phone & DTH Recharge to Insurance, Loans & Mutual Funds; from BBPS Bill payments to AEPS and domestic money remittances; it addresses the entire gamut of financial solutions a semi-urban Indian may need. One other feather in the cap of the company is the fact that their network system of more than 50,000 BC agents, treated as essential service providers in these tough times, are always keeping the financial needs of the individuals of India accomplished. Providing a staggering 25 million consumers in such trying times in an uninterrupted way is a huge accomplishment in itself. Having great pride in offering their countrymen, the team is fully committed to delivering services wherever needed.