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