Friday, September 9, 2011

Balance inquiry on mobile through fixed codes

Since past decade the banking sector has witnessed manifold development in the customer services. Every new day a new service is being added to the growing range of service provided to facilitate the bank customers.

Moving along the National Payment Corporation of India (NPCI) is under negotiations with the telecom operators to provide services on USSD (Unstructured supplementary Service Data) message, which would allow the bank customers to make non-financial transactions like balance enquiry by dialing a specific code through their mobile.

These transactions when made through other bank’s ATM cause monetary loss to the parent bank as for each transaction the bank has make some payment to the other bank which create unnecessary monetary loss for the bank with this facility when implemented both banks as well as customer will be benefitted.

The Managing Director of NPCI Mr. A.P. Hota said "These transactions are free for the customer if it is within the five transactions a month limit. But their banks have to pay the bank that owns the ATM between Rs 5 to Rs 8 for every enquiry."

He also said "We need to leverage mobile technology and increase awareness and discourage balance enquiry at ATMs."

1 comment:

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