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
(C)2015 ENPublishing - http://www.enpublishing.co.uk
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.
[Editorial queries for this story should be sent to email@example.com]
((Distributed via M2 Communications - http://www.m2.com))