India post introduces electronic money orders | Indianomics
India Post has finally decided to launch electronic money orders. An estimated 2500 branches will adapt to this electronic transfers. This facility is already piloted in main branches of Delhi and Bangalore. e-moneyorder will co-exist along with the traditional money order. The charges applicable will the same for both the modes.
Money order itself might be obsolete for some of us in the age of online transfers. It still is the only mode of money transfer for most places in India. Most of India is not financially included. Very few people have bank accounts and access to banks. Money order is the oldest bridge to cover this gap.