Hello, This sounds great as seeing mobile attachment with people now a days and mobile queries in access india but only concern is security, will it be able to replicate secured internet transaction as mobile is used for different purposes.
Few days back I was trying to do something with nokia map after reading Harish email but after few minutes figured battery down from 7 bars to 4 bars. Happy surfing, navigating and so on....keep a eye on battery also. Cheers, Pankaj -----Original Message----- From: accessindia-boun...@accessindia.org.in [mailto:accessindia-boun...@accessindia.org.in] On Behalf Of mahendra Sent: Monday, November 29, 2010 11:37 AM To: accessindia@accessindia.org.in Subject: Re: [AI] Mobile banking set to get a boost from IMPS thanks Amar, if i have more questions, will write to you. At 08:39 AM 11/28/2010, you wrote: >Dear Bhaiya: >Interbank moble payment system is launched by National Payment >Corporation of India. >Currently if I am right, then there are 7 banks participating in >this system, including the big market player SBI. More 16 are in >process, and 22 other banks will be participating soon. >In this system, as of now, Java based applications have got this >functionality of transfering funds into participating banks of this >system, and as the talks grow more with the mobile operators, soon >SMS based services will be available free of cost. Currently banks I >think are charging 50 paisa along with the rates of SMS which should >be 3 rupees per SMS. As I mentioned, trai is trying to get it reduced. >In this system, a user is alotted a unique MMID, full form is mobile >money ID if I remember, along with the registered number for mobile banking. >So say if I have account in SBI, and I have to transfer funds to >your YES bank account, I will give your mobile number and MMID which >you will provide me, after security checks are completed, funds will >be debeted to your account. It'ss almost realtime process, complaint >mechanism is also setup by banks in order to ease the process. >For any further doubt, do get in touch with me. >Regards >Amar Jain. >-----Original Message----- From: mahendra >Sent: Sunday, November 28, 2010 12:41 PM >To: accessindia@accessindia.org.in >Subject: Re: [AI] Mobile banking set to get a boost from IMPS > >this is of course great, can some one explain how it will work? no >internet, only through SMS? > >At 06:04 AM 11/28/2010, you wrote: >>Mobile banking set to get a boost from IMPS >> >>Vasudha Venugopal >>Unlike Internet banking which is confined to the tech-savvy, this >>will benefit average user >>---------------------------------------------------------------------- ---------- >> >>The service will help banks offer money transfer in seven seconds >> >>The latest security measures are put in place >> >>---------------------------------------------------------------------- >>---------- >> >>CHENNAI: Customers will now be able to transfer money from their >>accounts to any other account in the country using their >>cellphones, through the National >>Payment Corporation of India's Inter-bank Mobile Payment Service >>(IMPS). The facility allows transactions without the need for a >>computer or an Internet-enabled >>phone. >> >>Experts say the service introduces a new form of >>customer-friendliness that a developing ICT nation like India >>requires. The Telecom Regulatory Authority >>of India records more than 670 million registered mobile >>subscribers; with the penetration of Internet technologies through >>mobile phones being higher >>than the spread of the Internet through broadband connections, the >>service, they reckon, is expected to boost banking transactions >>better than Internet >>banking. >> >>"Though the Internet banking services are user-friendly, they are >>actually restricted to a limited number of tech-savvy, >>English-speaking Internet users >>in the country. With the IMPS, the mobile phone, which is >>ubiquitous, becomes a handier device for the average user," says >>Nishant Shah, director (research), >>Centre for Internet and Security. >> >>The service provides an inter-operable infrastructure for banks to >>offer a real-time money transfer facility to customers through >>mobile phones in seven >>seconds, says A.P. Hota, CEO and Managing Director of the NPCI. The >>mobile fund transfers offered by banks and technology providers >>take 24 hours, and >>are allowed only if the sender and the receiver hold accounts in >>the same bank, a hiccup the IMPS seeks to overcome. >> >>With mobile phone-based applications popular and more inclusive in >>their reach, Mr. Shah says, it might be not only more far-reaching >>to have banking services >>available through encrypted SMS systems, because it is a medium >>that people are familiar with, but also the application-based >>systems are going to benefit >>a lot of people, especially who live in areas with inadequate >>access to banking systems. >> >>Citing South Africa and the Philippines where the IMPS has been >>successfully launched, experts say the banking and telecom sectors >>are equipped with the >>latest security measures for launching the service. With most banks >>now using a Java-based robust system which works on some kinds of >>phones and is supported >>by a limited number of Operating Systems, the system is said to >>have tried-and-tested security features with double layers of >>encryption. Hence, the responsibility >>of caution is more on the side of the user than on technology, >>experts say, citing cases of sharing of passwords, leaving phones >>unlocked and sharing of >>sensitive information with strangers as causes for financial crimes online. >> >>Seven banks have already been offering the IMPS. Seven more are >>linking up through this network. Gradually, all 50 banks licensed >>by the RBI are expected >>to offer the service, which will be free of cost till March 31, 2011. >>http://www.hindu.com/2010/11/28/stories/2010112862140800.htm >> >>There is enough light for one who wants to see. >>Easy tips of improving English at http://shadablucknow.blogspot.com/ >>My contributions to the press >>http://shadablucknow.blogspot.com/2008/10/my-contributions-to-press.ht ml#link >>Many posts on one page >>http://shadablucknow.blogspot.com/search?updated-min=2008-01-01T00%3A0 0%3A00-08%3A00&updated-max=2009-01-01T00%3A00%3A00-08%3A00&max-results=4 7 >>To unsubscribe send a message to >>accessindia-requ...@accessindia.org.in with the subject unsubscribe. >> >>To change your subscription to digest mode or make any other >>changes, please visit the list home page at >>http://accessindia.org.in/mailman/listinfo/accessindia_accessindia.org .in > >with warm regards > Mahendra Galani >window's live ID mahendragal...@hotmail.com skype ID chintu3886 >phone +4314943149 mobile +4369910366055, >address Herbst strasse 101.16.1 Vienna Austria Europe > >--------------------------------------------------------------------- > > >To unsubscribe send a message to >accessindia-requ...@accessindia.org.in with the subject unsubscribe. > >To change your subscription to digest mode or make any other >changes, please visit the list home page at > http://accessindia.org.in/mailman/listinfo/accessindia_accessindia.org.i n > >To unsubscribe send a message to >accessindia-requ...@accessindia.org.in with the subject unsubscribe. > >To change your subscription to digest mode or make any other >changes, please visit the list home page at > http://accessindia.org.in/mailman/listinfo/accessindia_accessindia.org.i n with warm regards Mahendra Galani window's live ID mahendragal...@hotmail.com skype ID chintu3886 phone +4314943149 mobile +4369910366055, address Herbst strasse 101.16.1 Vienna Austria Europe --------------------------------------------------------------------- To unsubscribe send a message to accessindia-requ...@accessindia.org.in with the subject unsubscribe. To change your subscription to digest mode or make any other changes, please visit the list home page at http://accessindia.org.in/mailman/listinfo/accessindia_accessindia.org.i n To unsubscribe send a message to accessindia-requ...@accessindia.org.in with the subject unsubscribe. To change your subscription to digest mode or make any other changes, please visit the list home page at http://accessindia.org.in/mailman/listinfo/accessindia_accessindia.org.in
