Money Transfer Business in India – How is it Profitable?

Starting and running your own money transfer business can have multiple benefits and good earnings. In India, due to urbanization of certain areas, a lot of people migrate from low opportunity areas to cities where work earnings and opportunities are more. Such migrant laborers work hard to earn more and want to be able to send money to their families instantly. A lot of such people are unable to money transfer via internet banking as they are either not that tech savvy or are not having the means. As a majority of such people are daily wage earners, they cannot afford to spend an entire working day to go to the bank to deposit and transfer money.

There are a lot of challenges that a common man faces to send money to their loved ones and that is why we are motivated to present a unique banking experience through the domestic money remittance service model that is easily accessible anytime from your nearest money transfer agent.

This model is created for the ease of especially the underbanked and unbanked population of India. Customers can avoid travelling long distances, standing in long queues and filling forms to avail basic details banking services. Unlike Banks, these money transfer agents do not have the limitation of timing, and can work for long hours. You can transfer money on Bank holidays too. Customers can transfer money to any part of the country. The sender need not have a bank account and can transfer up-to Rs.25,000 per month using a single unique phone number. It is a safe and secure process, which takes less than a minute to complete.

Domestic money remittance is very easy all you need to do is

  • Collect the customer’s mobile no,
  • Beneficiary bank account number,
  • Bank name, IFSC code,
  • Amount to be transferred to the customer.
  • Complete the transaction by entering details
  • The customer account will be credited instantly and the customer will also be notified via SMS with the details of the transaction in real-time.

For people looking to start the money transfer business, this is a great income opportunity without any investment. For existing retailers who already have a steady flow of customers to their shop, it will attract more customers by providing this additional financial service.

To start your business as a money transfer agent or a money transfer distributor, you can register with Biznext simply using your Original Aadhaar and PAN Card details. At Biznext, we integrate with multiple banks in India to ensure 99.9% uptime. You can save time by conducting transactions using Biznext Mobile app or Web Portal. The money transfer services franchise is sure to get instant and real-time commission on every transaction into the Biznext wallet. Our secure, instant and easy domestic service allow you to send money to any bank account in India in a fast and seamless manner. We have the least charges in the industry and the agent can earn upto Rs.35 per transaction.

We have more than 35,000+ Retail Touch-points PAN India who are successfully working with us and are earning well. The best part about a Money Transfer business is that transfers are conducted every day from all parts of India, hence whichever part of India you are from, there is a lot of room for the business to flourish. So, contact Biznext to start your own business.


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