Mobile Banking
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Transcript of Mobile Banking
The Scope
It will be rolled out in 12 States. It will work on RBI Guide lines.
Client base
Transaction through branches-9.5 */month
Through Mobile-23*/month By Internet-26*/month
(*Figures are in millions ) Source: Lokmat dated 24th July,2008, Mumbai Edition
Cost Advantage
Through Branch Rs.35-40/transaction ATM Transaction Rs.15-30/transaction Internet Rs.10-15/transaction Through Mobile Rs.2 -5/transaction
System’s Components
Nationalized banks Leading telephony service providers Technology implementation Partner * Indian Postal Department will be the
pillars.
*It is ‘ALW’( A Little World-at present) NXP Semiconductors. Ekgaon Technologies New Delhi.
How it works:
Sequencing of SMS
3rd Confirmation SMS
Software support
Mchek India payment systems Bharati Airtel Ltd VISA Obope
RBI Guidelines
About mPIN Bank should provide min 4 digit PIN HDFC has already provided 6 digit
PIN
Type of Services Covered
For Paying Telephone , Mobile, Insurance premiums, credit card BillsGetting Physical currency