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Discussion

Which of the following is not true about Mobile Money Identifier (MMID)?

  • A.Mobile Money Identifier (MMID) is a seven-digit number, issued by banks for effecting financial transactions through the user’s mobile phone.
  • B.The user’s mobile number MMID are uniquely linked with his bank account number, and is one of the key inputs to facilitate fund transfer.
  • C.Both the remitter and the beneficiary are required to have their MMIDs to effect a fund transfer through the mobile phone.
  • D.A unique MMID and mobile number combination helps in identifying the beneficiary’s details. A single MMID can be linked to a mobile number.

Answer: D

In D) – It should be — Multiple MMIDs can be linked to same mobile number. If a person has accounts in more than 1 bank, he can use his same mobile number with all MMIDs

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