DMT

Through PayMonk, Domestic Money Transfer (DMT) allows customers to send money instantly from a PayMonk retailer’s outlet or app to any bank account across India. It is especially useful for individuals like migrant workers or people in rural areas.

Benefits of DMT:

• Instant Money Transfer: Send funds to any Indian bank account in real time, 24×7, even on Sundays and holidays.
• Cash-to-Bank Convenience: Customers without a bank account or digital access can give cash at the PayMonk retailer; the retailer processes the transfer using their wallet.
• Retailer Commission Earnings: Retailers earn attractive commissions on every DMT transaction — adding extra income on top of their regular business.
• Wider Customer Reach: Serve migrant workers, daily wage earners, and rural customers who rely on physical cash transfers.
• No Bank Visit Needed: Avoid the hassle of standing in bank queues — PayMonk retailers become one-stop banking points.
• Secure & Regulated: All transfers are done via RBI-approved, compliant channels, ensuring customer and transaction safety.
• Multi-bank Support: Send money to any major bank in India using IMPS or NEFT options.