Mobile Banking for Financial Inclusion – Consultation Paper by TRAI

USSD for Financial Inclusion

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TRAI has released a consultation paper on Mobile Banking for Financial Inclusion in its website. The Consultation Paper on ‘USSD-based Mobile Banking Services for Financial Inclusion’ has been placed for comments from the public. Comments can be made upto 11/10/2013.

As per the Census 2011, only 54.4 percent of rural households has access to banking services. The Unstructured Supplementary Service Data (USSD) provides an opportunity to include vast number of rural (non smart phone using) mobile subscribers into the banking mainstream.

Some of the salient features of USSD

  • USSD works on all GSM handsets
  • Displays application like interactive menu
  • No application installation required
  • More secure than SMS
  • GPRS/3G is not required as it works on voice channel
  • Real time session oriented platform
  • Average duration per transaction is 2 seconds in comparison to 7 seconds in conventional SMS banking
  • Incoming messages are of flash type and do not get stored on the handset

Telecom operators are currently using USSD to solve their customer problems by providing various services like account balance check, activations etc.


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