05:39 pm - Friday 28 April 2017

TRAI recommends tariff for USSD based mobile baking services

By insightVAS - Thu Nov 28, 5:45 pm

In order to make mobile banking popular across the country, Telecom Regulatory Authority of India (TRAI) has prescribed guidelines and tariff for unstructured supplementary service data (USSD).

It is used by telecom operators to send alerts to their users. It can be used for pre-paid call-back service, location-based content services and menu-based information services.

“We have come out with a framework to help bank agents to interface with service providers for the use of SMS, USSD and IVR channels to provide mobile banking services. The authority wants to utilise the benefits of mobile banking for financial inclusion,” TRAI Chairman Rahul Khullar said. A large section of the population, especially in rural areas, do not have an easy access to banks and this facility will help to tide over that shortcoming, he added.

According to TRAI ceiling tariff for an outgoing USSD-based mobile banking service shall be Rs 1.50 per USSD session. “Telecom service providers should collect charges from their subscribers for providing the USSD to deliver mobile banking services,” TRAI added.

All service providers should facilitate not only the banks, but also the unauthorised agents of banks to use SMS, USSD and IVR (Interactive Voice Response) to provide banking services to bank customers, it said.

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