India's TimesofMoney launches e-mail payments portal

India's TimesofMoney launches e-mail payments portal

Mumbai-based financial services provider TimesofMoney and Yes Bank have teamed to launch an e-mail-based payments platform,

Dubbing the online service an e-Wallet, TimesofMoney says the Web site will enable individuals and businesses with a valid e-mail address to send and receive payments, make bill payments and online purchases, instantly.

To send money, users login with their e-mail ID and PIN, enter the e-mail address of the recipient and submit a secret question known to the receiver. The money is then delivered to the receiver's Wallet365 account who can access the funds by logging in to their account and answering the secret question.

The service will be available in India and Yes Bank will act as payments transfer agent.

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