Soon non-financial transactions like balance enquiry could be moved out of bank ATMs to your mobile phones. This will work in the same way as you can check your mobile prepaid balance by dialing some specific codes.
National Payments
Corporation of India is in talks with mobile companies to facilitate
banking transactions through USSD (unstructured supplementary service
data) messages. USSD messages are at present used by mobile companies to
enable users check pre-paid balances and get information on offers by
dialing a specific code.
These query are real-time on the telecom networks server and are therefore faster and more responsive than SMS queries.
These query are real-time on the telecom networks server and are therefore faster and more responsive than SMS queries.
