Telecom tower (Photo by W Rorrkychand Sing/

Banks Bury Ussd On High Charges By Telcos

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High messaging charges levied by telecom companies has prompted private banks to almost abandon any promotion of the USSD (unstructured supplementary service data) platform for mobile banking using the *99# code. Private banks have instead shifted their entire development focus to mobile applications and SMS banking.

Unlike SMS or internet banking, the USSD platform opens a direct communication with telecom companies’ servers. This makes it imperative for banks to have an industry-level agreement with telecom companies. Last year, after much haggling, telecom companies opened up their USSD platform to banks, subject to a payment of Rs 1.5 for every message. Original post at ET Telecom

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Wahengbam Rorrkychand

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