What Is It?

Consumer Voice - - Bfsi Report -

In the last two decades, mo­bile bank­ing has evolved from be­ing mere SMS-based sup­port ser­vice – wherein you get up­dates about your trans­ac­tions – to a full-fledged bank­ing ser­vice. Thanks to wire­less ap­pli­ca­tion pro­to­col/WAP-sup­ported smartphones, now a cus­tomer can avail of al­most all those ser­vices that he could once get only when phys­i­cally present at the branch. Tech­ni­cally, all bank trans­ac­tions that in­volve ac­cess­ing credit/debit through a mo­bile de­vice (phone or hand­held tablet) are con­sid­ered as mo­bile-bank­ing trans­ac­tions. Th­ese ser­vices, cur­rently of­fered by 97 banks in In­dia, are avail­able to mo­bile cus­tomers ir­re­spec­tive of their mo­bile net­work or ser­vice provider. A cus­tomer may sim­ply reg­is­ter with their re­spec­tive bank and down­load a spe­cific ap­pli­ca­tion on their smart­phone. Li­censed banks with the pro­vi­sion of core bank­ing so­lu­tions (CBS) are per­mit­ted to of­fer mo­bile-bank­ing ser­vices to their cus­tomers af­ter ob­tain­ing nec­es­sary per­mis­sions from the Depart­ment of Pay­ments and Set­tle­ment Sys­tems, Re­serve Bank of In­dia. As of now, only ru­pee-based ser­vices within In­dia are al­lowed; cross-bor­der trans­fers of any kind are pro­hib­ited. Per­son­al­ized alerts and se­cu­rity prices

Sup­port ser­vices

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