IMT lets you send money from a bank account to a person using only his mobile number as the identifier. The receiver can use the codes on his mobile to go to any ATM enabled, and pick up money without a card. It works across banks. The money pick up can happen from Telecom Prepaid Sellers, Retailers, Agents - indeed anyone who handles money - using a simple mobile based terminal supplied by Us. Cash remittance market in India is about $25bn in volume p.a.