Indian telco BSNL to launch money transfers and groceries on SMS
www.WirelessFederation.com/news: A mobile banking platform is proposed to be launched by Indian telco BSNL to help a mobile subscriber send money orders electronically through SMSs, encashable at all post offices in the country.
Anyone wishing to send money through the money transfer service will have to transfer the money by way of an SMS by going to his nearest post office. A lot of money could be saved as the SMS will reach on time. People having no proper address for physical delivery of the money order would also be helped by this service.
Besides, BSNL has also planned to launch a service under which a person with the help of an electronic authorization from his bank on his mobile phone will be able buy goods at the local kirana shop or any other store.
According to BSNL Board Director (Consumer Mobility) R K Agarwal, the platform had been test-piloted in Chandigarh and the state-run telecom major expects to roll out the service in association with the postal department, after getting the Reserve Bank of India’s approval.
Final Guidelines awaited on M-Banking (India)
To enable banks to roll out cellphones based payment services to their customers, Reserve Bank Of India (RBI) is likely to finalise guideleines on mobil banking soon, a senior RBI official said.
“We are presently examining the comments received in response to the draft guidelines issued. Based on this, the final guidelines will be issued within a period of two weeks,” Reserve Bank’s Executive Director R B Barman told.
As per the draft guidelines, the apex bank had proposed that the lenders may allow customers to perform transactions even using the most basic handsets.
Also the customers can use SMS- based facilities to make small payments of up to Rs 1,500.
However, recently, the apex bank asked banks to put their mobile-payment services on hold till the time it issued the final guidelines on the matter.
Barman also talked about the security issues related to it and said “We have to see the various aspect of the mobile-payment service, especially the security aspects of such transactions prior to allowing banks the implementation. We would also examine the functioning of similar services by those banks who presently offer the service.”
