SUBMITTED BY:PALLAVI SAGGARMBA-2A

News on Mobile Banking

Marriage b/w Banking & Telecom Technologies give birth to Mass Mobile- Banking Carry your Bank in your cell phone .

(Source: The Economic Times)

No. of Mobile users (per 100 persons)

2007 2008 2009

Developed Countries

50 97 115

Developing Countries

5 45 57

Contd…

Channels per yr.

2000 2009 2020

No. of ATMs

3000 44000 1.25 lac

No. of Mobile Banking Users.

1 lac 5 cr. 50 cr.

No. of internet Banking Users

5 lac 2.2 cr. 18.5 cr.

No . Of Internet users.

50 lac 8.1 cr. 39 cr.(Source: The Economic Times)

Is Mobile Banking Save ??????Transaction done through Mobile is as save as Internet Banking .

If Transaction is done through Mobile Banking Application such as ngpay & iMobile downloaded on the cell phone.

Transaction done through SMS is not that secure.

Is Mobile Banking Secure?????Bank offers this facility to its customer free of cost.

But, Telecom Operators will levy charges for use of GPRS (General Packet Radio Service) facility .

The Cost depends upon the plan which is being chosen.

If Mobile is lost??????

As correct PIN is known to you that is required to carry transaction through this Channel. So, there is no Danger!!!!!!

Procedure to carry a Transaction through Mobile!!!

There are 2 ways :-1. GPRS- Enabled Mobile

Phones2. SMS- Based Transactions

1. GPRS- Enabled Mobile Phones

Step:1 – Register for Mobile Banking Service with

your Bank. You will get an SMS with link for downloading application . You can download it by visiting the Relevant URL.

Step:2 –Once you install the application &follow

instruction & set a MPIN(Personal Identification no. ) for carrying out the transaction.

Step:3 –Once Mobile Banking a/c & MPIN is activated

& than start m-commerce.

2. SMS- Based Transactions

Step:1 –Register for the Service with Bank.Step:2 –Type a Message like– Pay<Merchant Code><Amt.><MPIN> to No. specified by Bank.

Thank You