RCom Ready with Basic Mobile Banking Services

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Reliance Communications said Wednesday that it is ready with its mobile banking service which will enable banking transactions for its customers, irrespective of the handset, make or region.

Customers of RCom, which offer mobile phone services on the GSM and CDMA technologies, need to dial *99# short code on their handset, which will allow them to access banking services across 29 nationalized banks with a single number, the company said in a statement. India’s fourth largest telco has over 110 million subscribers on its network.

The subscribers will be charged INR 1.50 per session, as mandated by the sector regulator.

ET reported Wednesday that mobile companies have agreed to share a slice of their infrastructure to pave the way for basic banking services through cell phones. Fund transfer, balance inquiry in savings account, change of PIN, mini statement, cheque book request, etc, will be possible with simple text messages from ordinary handsets and without accessing the Internet. Original post at ET Telecom

Wahengbam Rorrkychand

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