|
BANKING SERVICES THROUGH MOBILE PHONES
The modern technology has gained such
heights that the banking services are
available even through the mobile phones
that we use. We have also seen how the
use of mobile phones has spread
throughout the world within a very short
period of time. In the recent scenario,
almost 70 to 80% of the people have
their own mobile phone. Banking services
have been made possible as well as
easily available on the mobile phones in
the recent years using the internet as a
main medium. This service is also
growing fast and has reached world-wide
like the mobile phones marketing.
Banking services through mobile phones
is also known as m-banking services.
Many transactions can be done like fund
transfer, paying bills and balance
enquiries can be done through the
banking services through mobile phones.
The introduction of internet banking
system has given an ascending force
towards all the banking sectors as well
as in other fields and business
industries also. Telecommunicating
devices are directly connected through
the GSM network and that is how the
banking services through mobile phone
are made possible.
According to the market survey that had
been conducted, it is predicted that 70%
of the people will be using the banking
services through mobile phones by the
year 2012. It is also considered as a
time saving factor as well as energy
saver.
The trouble of going to banks to make
transactions has been completely
eliminated. The mobile banking services
are easy as well as quick. A person can
stay at home and transfer fund to anyone
in the world using banking services
through mobile phones. Many financing
companies have got a chance in providing
their valuable services far and wide to
the people. Due to these services, many
commercial institutes and new banks have
emerged with their services in the
recent market strategy. The latest
mobile phones that have triggered the
market are preloaded with the latest
banking software. The introduction of
the banking services through mobile
phones has uplifted the companies which
manufacture mobile phones. Some of them
are already reached the climax of
popularity too.
The banks use different mediums of the
banking models in order to find the best
and the cheapest way to reach the final
customers. Different banking models have
separate expenditures that are incurred
to make the banking services through
mobile phones available to the common
masses. People use very expensive mobile
phones to very cheap ones and it all
depends upon the choice of the people.
Expensive phones are pre-loaded with the
banking software which can be used for
the banking facilities as well as it
supports internet networks or GPRS
services. The cheap mobile phones have
only SMS facilities. The bankers reach
their customers either through SMS or
through GPRS networks, whichever is
possible.
There are some disadvantages of the
banking services through mobile phone
too. Some of the mobile phone supports
only certain software. These services
have been made possible and available to
those mobile phones that are compatible
with the software. Certain charge is
applicable for using these services.
|
