Domestic Money Transfer (DMT) services hold a key importance In India’s fast developing digital economy. It has worked effectively towards expanding the reach of digital services and bringing in financial inclusion. Government data says that UPI transactions have hit a record high of Rs 230 lakh crore in the year 2025-26 (till December). DMT services has played a significant role in increasing this number. It makes users to send money instantly, anytime, anywhere, securely and easily even when they don’t hold a bank account. If you too want to be part of the digital revolution in India and are wondering how to start a Money Transfer business in your area, here in this article, we have got all the necessary details for you.
How do DMT services work?
The term ‘Domestic Money Transfer’ stands for the electronic transaction of money between two or more people or organisations in India. The local Religare DMT Agent works as the easy-to-access representative for the users to send money anywhere in the country, at any time and from any location. Money transfer service is accessible for a nominal service cost, and work instantaneously. Though there are other ways to carry out these transfers, such as NEFT or IMPS, but for those users who find it complicated to use banking services or have no access to them, DMT services are particularly helpful.
Here are some of the easy steps in which customers can access DMT services by Religare –
- Customers reach a nearby Religare Digital store.
- The Religare DMT agent understands the requirement of the customer, accesses their official agent platform and connects to the DMT client portal.
- The agent records customer’s KYC details, such as mobile number and Aadhar number and verifies them. They record customer’s thumbprint for biometric authentication.
- The DMT agent enters the complete name, account number and IFSC code of the beneficiary in the platform. He will enter the amount that has to be transferred.
- The agent then ensures that the transaction is carried out successfully.
- The money transfer acknowledgement is then sent to the customer’s mobile device.
How to start a DMT service business with Religare
Here is a step-by-step account of the digital registration process to become a DMT Agent:
Step 1: Understand the role of DMT agent and business prospects. Visit Religare Digital’s website to find out about the DMT services and benefits.
Step 2: Express your interest to start as a DMT agent by filling out the form on the Religare Digital app or Religare Digital website. Carefully enter your details, such as name, contact information, and other important details.
Step 3: Start your first conversation with Team Religare. Do not resist asking questions as the team is happy to answer them and discuss the role, process and advantages. Becoming a Religare representative is a completely digital process. The staff will help with your onboarding and required documentation.
Step 4: Your documents will be verified. On successful verification, you are registered as a DMT agent and you will receive the required business, marketing and training support.
Wrapping up
Religare Digital is a robust and integrated platform that offers a bundle of e-governance services, including domestic money transfers in India. Through DMT service, DMT service agents work to transfer the money to the recipient’s bank account instantly. Our registered DMT agents are well-trained and have the necessary tools to carry out money transfer transactions in a safe and quick way. This makes the whole process hassle-free, reducing any need to visit the nearest bank branch. Now as you know how to start money transfer business with Religare, you can take your first step and contact the team today for further details.
Source: https://znnews.online/how-to-start-a-money-transfer-business-in-india-with-religare-digital/
