MMID is a seven-digit number issued by your bank for transactions through mobile banking.
Fund transfer through Facebook is meant for tech-savvy customers.
Chillr App allows users to send money to any contact in phone books.
For those who are sceptical about using debit or credit cards, even when faced with cash crunch, Adhil Shetty, CEO of BankBazaar.com, lists out a few safe cashless options that can be exercised through mobile phones.
The IMPS platform has 28 banks under it and account holders of any of these banks can use the newly launched service, Sharma said, adding that there will be no charges for either sending or receiving the money.
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