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India's NCPI to work on alternative solution for mobile banking.

Global Banking News-August 26, 2015--India's NCPI to work on alternative solution for mobile banking

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Global Banking News - 26 August 2015

National Payments Corporation of India (NPCI) is evaluating other modes to provide cheap mobile banking solutions after its initiative with USSD seems to have failed.

The NCPI said, 'Currently, hardly about 40,000 transactions take place a day on the USSD (unstructured supplementary service data which is used in GSM mobiles) but we were thinking it could be a million a day.'

The USSD-based system was projected in 2013 as a tailor-made solution for the country that still has 84 percent of the users on feature phones.

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Publication:Global Banking News (GBN)
Date:Aug 26, 2015
Words:136
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