Essays on Telstra Instant Cash Transfer Service Case Study

Tags: Cash Flow
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The paper “ Telstra Instant Cash Transfer Service“ is a  worthy variant on case study on marketing. The use of mobile phones has been gaining popularity globally with Mobile phones becoming the most important communication tool globally, being the most common electronic device that people own. Whereas the global penetration rate is low, some countries have surpassed the 100 % penetration rate. Australia rates as one of the most connected nations, In Australia, the penetration rate has been increasing substantially in the last decade, with several studies such as Audit Bureau of Circulations (ABC) – Australia data suggesting that Mobile phone penetration is near-universal, and the average household has 2.9 mobile phones.

The data collaborates with findings published by other studies that state that the penetration rate has been growing substantially in the last decade and now stands at more than 100 percent. Subscribers have been using mobile phones for several purposes, such as voice communication, Short Message Service, internet access, and advancement leading to the merger of computing and mobile telecommunications as remarked by Brian, (1997). Advanced mobile phones currently offer all functionalities offered by personal computers. Current market situation Money transfer in AustraliaThere are several available money transfer services in Australia, the common  types  of  money  transfer  services available used by most of the populace include wire transfer,   bank draft, cheques, Internet  money  transfer, and  money orders.

The services attempt to offer quick, safe and efficient international and domestic money  transfer in order to swiftly provide funds to businesses and individuals. Some traditional money transfer methods such as the use of cheques have faced a myriad of challenges making the system unsuitable, in some cases, cheques clearance takes a lot of business time, some recipients may not be having a bank account or the cheque may not be accepted.

In Australia, Wire transfers are among the most frequently used money  transfer  services used to shift monies from one bank account to another bank account, the recipient's details such as recipient’ s bank or their wire transfer code are required in order to initiate and complete a wire transfer, making the option secure, but the method requires the sender and the recipient to have a bank account hence inappropriate for those without bank accounts and inflexible.

A bank draft is relatively flexible since it is cashable at any banking institution, it is mostly used for payments to multinational companies. A bank draft is issued by a bank or  money  transfer  company and has enhanced security and audit trail features hence making the method the most preferable method by most companies and large institutions, the alternative is, however, more expensive than other money transfer alternatives. Internet  money  transfer  services have augmented in popularity as security has improved, there are various online companies who offer Internet  money  transfer  services, Castells, (2003), the services are flexible in that it is available to anybody with an email account, this is usually transacted through third party companies who provide online account set up.

The proliferation and development of scam money transfer services and presence of hackers have made Internet  money  transfer  services to be untrustworthy, furthermore, not all persons are computer literate.



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