The Scope :
The Scope It will be rolled out in 12 States.
It will work on RBI Guide lines.
Client base :
Client base Transaction through branches-9.5 */month
Through Mobile-23*/month
By Internet-26*/month
(*Figures are in millions )
Source: Lokmat dated 24th July,2008, Mumbai Edition
Cost Advantage :
Cost Advantage Through Branch Rs.35-40/transaction
ATM Transaction Rs.15-30/transaction
Internet Rs.10-15/transaction
Through Mobile Rs.2 -5/transaction
System’s Components :
System’s Components Nationalized banks
Leading telephony service providers
Technology implementation Partner *
Indian Postal Department will be the pillars.
*It is ‘ALW’( A Little World-at present)
NXP Semiconductors.
Ekgaon Technologies New Delhi.
How it works: :
How it works:
Sequencing of SMS :
Sequencing of SMS 3rd Confirmation SMS
Software support :
Software support Mchek India payment systems
Bharati Airtel Ltd
VISA
Obope
RBI Guidelines :
RBI Guidelines About mPIN
Bank should provide min 4 digit PIN
HDFC has already provided 6 digit PIN
Type of Services Covered :
Type of Services Covered For Paying
Telephone ,
Mobile,
Insurance premiums,
credit card Bills
Getting Physical currency