RCom ready for mobile banking services
28 Aug 2014
Reliance Communications (RCom) is ready with Unstructured Supplementary Service Data (USSD) platform that would enable mobile banking transactions, following its successful testing. Users can now dial *99# on their handset, which will allow all customers to access banking service across 29 nationalised banks with a single number.
This is irrespective of the mobile handset, make or region, RCom said in a statement.
The Anil Ambani-group company has completed the testing of the service at Dhirubhai Ambani Knowledge City, Navi Mumbai, on various types of GSM handsets.
The infrastructure provided is over the secured point-to-point virtual private network.
Subscribers will be charged Rs 1.50 per session, as mandated by the Telecom Regulatory Authority of India (TRAI).
''This platform can offer basic financial services even in areas that are beyond the reach of traditional banking. Mobile technology has a crucial role to play in servicing the under-banked and un-banked sections of society,'' said Vinod Sawhny, chief executive officer, RCom.
RCom has integrated National Payment Corporation of India (NPCI) gateways with the charging systems, while its USSD gateways are located in Mumbai. NPCI will manage the banking menu and call flow with respective banks.
''This is going to be a game-changer in mobile banking services as it will not only will this take telecom companies closer to banks, it will also cover all types of customers,'' said RCom chief information officer Alpna J Doshi.
