Post Job for Free Free Online Practice Set Download Study Materials Aptitude Preparation Bank Exam Preparation Bank Exam Preparation CAT Preparation CAT Preparation Current Affairs Exam Preparation General Knowledge Group Discussion Group Discussion Topics Online Tests PSC Interview Questions PSU Companies Preparation PSU Companies Preparation Technical Interview Questions Jobs By Category Bank Jobs BPO Jobs BSc / BCA / BBM Core Technical Jobs Defence Jobs Dream Jobs > 5 lpa Finance Jobs Government Jobs Health Care Jobs Hospitality Jobs Internship Jobs IT / Software Jobs Journalism Jobs Manpower Consultants MBA Part Time Pharma Quality Control Jobs Research Jobs Retail Jobs Scholarships Jobs Sports Jobs StartUp Jobs Teaching Jobs Tech Support Jobs Walk-ins Jobs 1 to 3 Yr Exp Jobs By Company BEL Recruitment DRDO Recruitment FCI Recruitment HAL Recruitment IBPS Recruitment Indian Air Force Recruitment Indian Army Recruitment Indian Navy Recruitment ISRO Recruitment ONGC Recruitment Police Recruitment Railway Recruitment SBI Recruitment UPSC Recruitment Jobs by Roles Accountant Jobs Architect Jobs Content Writer Jobs Data Entry Jobs Fashion Designer Jobs HR Admin Jobs Management Trainee Jobs Medical Representative Jobs NON-IT Jobs Receptionist Jobs Sales/Marketing Executive Jobs SEO Analyst Jobs Telecaller Jobs Jobs by Skills CCNA Jobs Digital marketing Jobs Embedded System Jobs Finance Jobs Hardware jobs HR Jobs Legal jobs Marketing Jobs Networking Jobs Oracle Jobs SAP Jobs Software Testing Jobs Tech Support Jobs Jobs by Branches Aeronautical Engineering Jobs Architecture Engineering Jobs Automobile Engineering Jobs Computer Science Engineering Chemical Engineering Jobs Civil Engineering Jobs ECE Jobs Electrical Engineering Jobs Instrumentation Engineering Mechanical Engineering Jobs Nursing Jobs MSC Botony Jobs MSC Physics Jobs Jobs by Courses B.Com Jobs BBA / BBM Jobs BCA Jobs BE Jobs / B.Tech Jobs BSc Jobs Diploma Jobs M.Sc Jobs MBA Jobs / PGDM Jobs MCA Jobs ME Jobs / M.Tech Jobs

December 28, 2016

Fund transfer via feature phones set to get easier

  webmaster       December 28, 2016
Fund transfer via feature phones set to get easier


Starting next month, anyone with a mobile will be able to transfer funds by merely using the mobile number of the recipient. The National Payments Corporation of India (NPCI) has integrated the *99# messaging-based mobile banking service with its Unified Payments Interface (UPI), allowing transfer of money with minimum details. Currently , feature phones are not used for everyday payments despite there being a platform that allows use of USSD (Unstructured Supplementary Service Data) messaging for the purpose. USSD is the messaging platform that prepaid customers use to check their talktime balance. The problem in using it for banking is that it requires inputs of several dozen characters such as 16 digit account number , 11 digit IFSC code, recipient's name and seven digit Mobile Money Identification Number (MMID).
The UPI, which was laun ched a few months earlier, aimed to address this problem by linking the account identifiers (Ac number, IFSC code, name) to an `alias' which includes mobile number and email.
However, the limitation was that the service was available only on banking applications, which needed smartphones with internet connections.Now, with NPCI bringing UPI to feature phones, someone with Rs 1000 handset can reap the benefits of instant payments.This `optimized USSD' will be launched on January 30 with a new brand name. “The only condition is that the bank should have joined the UPI platform. With this, even if the customer holds a basic feature phone, he can still avail the benefits that were hitherto available only for those with smartphones,“ said AP Hota, MD & CEO, NPCI. If the account holder keys in the recipient's mobile number, the UPI platform will retrieve the recipient's name from its server, helping the sender authenticate the number. 

Sources @


Thanks for reading Fund transfer via feature phones set to get easier

« Prev Post

No comments:

Post a Comment