Re: [AI] Mobile banking set to get a boost from IMPS
@Pankaj Sir: Security is surely kept in mind with mobile transactions too. The whole data is encrypted, so that the risk of compromising with the security is minimized. And as far as security on the users part is concerned, it is always advisable not to write your personal info like credit card number etc on your mobiles. However I dislike the systems in which they store your credit card info while transacting for the first time, then if required next time you need not to enter it again. No matters how much so ever your data centers are secured, but at least I am not mentally prepared to give my sensitive info for the storage in your data centers. @Mahendra Bhaiya: No formalities! -Original Message- From: Pankaj Kwatra Sent: Tuesday, November 30, 2010 9:41 AM To: accessindia@accessindia.org.in Subject: Re: [AI] Mobile banking set to get a boost from IMPS 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 onkeep 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
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
Re: [AI] Mobile banking set to get a boost from IMPS
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 onkeep 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
[AI] Mobile banking set to get a boost from IMPS
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.html#link Many posts on one page http://shadablucknow.blogspot.com/search?updated-min=2008-01-01T00%3A00%3A00-08%3A00updated-max=2009-01-01T00%3A00%3A00-08%3A00max-results=47 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
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.html#link Many posts on one page http://shadablucknow.blogspot.com/search?updated-min=2008-01-01T00%3A00%3A00-08%3A00updated-max=2009-01-01T00%3A00%3A00-08%3A00max-results=47 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.in
Re: [AI] Mobile banking set to get a boost from IMPS
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
