| Topic : Mobile Banking in India |
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Indian Telecom Professionals
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Activity:
30 views;
last activity : 11 27 2010 14:26:17 +0000
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Mobile No-frills accounts
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Security
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SECURITY
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Roaming,Interoperability and Interconnect should be taken care
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Money through Mobile (MTM)
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An Easy & Fully Secure Smart Banking Service
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The framework should create all mobile linked no-frills accounts by banks, which will have various transaction limits. The basic financial transactions like cash deposit, credit customer's mobile linked no-frills account, cash withdrawal, peer-to-peer transfer and balance inquiry, and on these accounts can be executed through a mobile-based PIN system or biometric-based micro ATMs of business correspondents. |
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I support your vies , Sonal & thanks for this useful information.
Thanks for the referral Ms.Leena and accept the views posted from this sides.
I AGREE
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As it is one reads about the frauds taking place in the internet access to banking accounts/ debit cards/credit cards etc. Security of transacting on mobile business is to be looked into before it is implemented. Secure transactions/portals to be included for transacting business. Safety of IPIN Or mobile pin or password should be taken care of etc. Sufficient care should also be taken for the identity of the people who use mobile banking to ensure that slush funds are not routed through normal channels. |
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I AGREE WITH U.
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the security aspects of the situation should be tightened up first - this is very important and crucial. recently (2 years ago) i was bedridden and in hospital for a period of 2 months because of a serious accident. i used my mobile to create an e-mail address so that while in hospital i could be in touch. i found that i was getting around 10 times more spam on that email id than on other email ids even from the same provider - i had to eventually shut it down by non-use. if this can happen for an email id on https, then how will financial transactions on the same be?. recently one bank had to shut down their online transaction services for about 15 days while they tackked a spam problem.
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The Roaming,Interoperability and Interconnect aspects should be taken care thereby ensuring the customer satisfaction across the globe
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http://www.thehindubusinessline.com/2010/11/02/stories/2010110252550700.htm Please see in the above link a comment in Business lines on my proposal "Money Through Mobile' (MTM) for Financial Inclusion and Micro finance service to people in the lower economic strata across the country. The proposal envisages usage of technology already being used in the "Pre-paid' Mobile telephone serrvice and the Mobile network. MTM system shall be an exclusive system transparent to Banks and Telecom Service provider. An exclusive system for shall be set up by:- (1)National Payment Corporation of India under the ambit of RBI. Even the goverrnment can consider an exclusive private GSM system and network for exclusive mobile banking. (2) By a consortium of Telecom Service providers or Mobile banking use the Telecom service providers System and network and it customer base, it is only fair that telecom service provider get tthe benefit also out of the Mobile banking service by foraying into banking as a service as diversification. Interworking between the Mobile network and MTM system can be Web based, SMS or USSD based and also a combination of these. (3) The system can be set up and owned by Department of Posts in collaboration with Telecom service providers. Postal department has presence in cities as well as in rural areas and already ahs Savings bank as a service. |
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I also agree with you Sonal, this is true that for the business purpose it will be good. Banking will be more easy and interesting to the customer and I think people will be more involved with this. This is an appreciable step of TRI. But rest of all those things I think the security matter is more importent here; this should be more logical and strict, in this matter I agree with Kanukurhty. RBI and TRAI should look after this properly and take appropriate steps on this matter. |
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