The Improvement of technology is creating the comfortable life for people. In the banking sector, a lot of new technologies has introduced consistently. Nowadays usage of the smartphones is high. So banks grab the customers attention by launched the mobile banking.
By using mobile banking, the customer can send money to any bank branches in India like a computer. So, this technology brings more customers to the banks.
Mobile Banking Over Wireless Application Protocol
Mobile Banking through WAP is a service which allows the customer to access your bank account. By using mobile banking, you can initiate the money transaction over the internet. The customer can access their Mobile Banking either in mobile data or Wi – Fi.
The Mobile Banking Application supports to different platforms like Android, IOS, Blackberry phones. A Majority of the banking services are available in the mobile banking application.By using Mobile Banking, you can access a lot of banking activities.
Below are the services available on Mobile Banking Over WAP,
- Access your bank account and other related services too.
- You can transfer fund between various bank accounts using beneficiary details along with IFSC Code.
- You can make all the Enquiry services such as Mini Statement, Account statement, etc.,
- Make an Instant Payment for your utility bills.
- Make a request for loan/Cheque book/ stop payment, etc.,
(Note: – Do you have any confusion to add your payee branch? Let us assume, a lot of Citibank branches available in your city, you can use IFSC Code to differentiate the branches.)
Mobile Banking Over SMS
To utilize the Mobile Banking, you do not require to download any particular application. The SMS Services are available on all the phones. It works like any other message service.
If you want to know the updates on your account, you are required to send a message to some particular number, and you will get an instant reply along with your details.
You need to raise a request for Mobile Banking access to your bank or register your mobile number using your bank ATM’s. The following services you can get via SMS services.
- Enquiry Services such as Balance Enquiry, Account Summary, and Last Three Transactions.
- Instant alert on every activity happens in your account.
Mobile Banking Over USSD – Unstructured Supplementary Service Data.
The USSD – Unstructured Supplementary Service Data was introduced to target the rural areas. The services of USSD can be enjoyed by anyone with any mobile phone.
The Mobile Banking over USSD is unlike an SMS service. It is a real-time interaction between the customers and bank. You have to dial some pre-fixed number and press the dial button; the popup will appear then, you can choose the next step from there.
Below are the services available on Mobile Banking over USSD,
- Mobile banking over USSD will always support VAS – Value Added Services such as DTH recharge and Mobile recharge as well.
- Using, IMPS you can transfer the money via Mobile.
- Use Mobile Application to locate your branch and ATM’s around you.
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