TRANSFER OF CASH FROM ONE MOBILE PHONE USER TO ANOTHER MOBILE PHONE USER WITH INSTANT ACCESS TO THE WITHDRAWAL AND PAY OUT OF CASH

摘要

A method of transferring funds comprising of the steps where the sender, activates the cash transfer by calling a pre-designated phone number accessing a device being the Remote Mobile Cash Payment Gateway and when voice prompted by the Payment Gateway, keys - in security protocols on his or her mobile phone key pad which are a 4 digit Transfer Security PDSf created by the sender, the receiver's mobile phone number, the amount of cash being transferred and 9 digit Primary Transaction Code contained on the Mobile Cash Transaction Card purchased by the sender from a POS device at a Merchant outlet connected to the Remote Mobile Cash Payment Gateway and on completion of the key-in the cash transfer is activated and the remote Payment Gateway communicate by short text message (sms) with the receiver's mobile phone and forwards a reference number for the cash transaction and the sender will communicate with the receiver by short text message, telephone or other means and convey the security protocols, enabling the withdrawal of cash by the receiver who will in¬ put the security protocols into a POS device at a Merchant outlet at another location or country which is connected to the remote Mobile Cash Payment Gateway and on approval of the protocols by the remote Payment Gateway the sum of cash will be paid out by the Merchant, the receiver collects the cash and signs a receipt acknowledging payment.