RCOM Ready for Mobile Banking Services
Users can dial *99# short code on their handset to access banking services
New Delhi, 27 August 2014: Reliance Communications, India’s fully-integrated telecom service provider, today announced the service readiness of its USSD platform-based mobile banking services to enable banking transactions for its customers. Users can dial *99# short code on their handset, which will allow all customers to access banking service across 29 nationalized banks with a single number—irrespective of the mobile handset, make or region.
RCOM has integrated NPCI (National Payment Corporation of India) gateways with the charging systems and USSD gateways located in Mumbai. NPCI will manage the banking menu and call flow with respective banks.
Announcing the service readiness, Mr Vinod Sawhny, Chief Executive Officer, Reliance Communications, said: “Financial inclusion is a national priority and we are proud to launch this platform which can offer basic financial services even in areas that are beyond the reach of traditional banking. Mobile technology has a crucial role to play in servicing the under-banked and un-banked sections of society, and RCOM’s endeavor is to bridge this gap with its customized solutions.”
Reliance Communications’ Chief Information Officer, Ms Alpna J Doshi, added: “This is going to be a game-changer in mobile banking services—not only will this take telcos closer to banks, it will also cover all types of Customers.”
RCOM successfully completed the testing of the service at Dhirubhai Ambani Knowledge City, Navi Mumbai, on various types of GSM handsets. The infrastructure provided is over the secured point-to-point VPN (Virtual Private Network). Subscribers will be charged INR 1.50 per session, as mandated by TRAI.
About Reliance Communications
Reliance Communications Limited founded by the late Shri Dhirubhai H Ambani (1932-2002) is the flagship company of the Reliance Group. The Reliance Group currently has a net worth in excess of Rs. 91,500 crore (US$ 15.3 billion), cash flows of Rs. 10,200 crore (US$ 1.7 billion), net profit of Rs. 4,700 crore (US$ 0.8 billion).
Reliance Communications is India’s foremost and truly integrated telecommunications service provider. The Company has a customer base of about 118 million including over 2.6 million individual overseas retail customers. Reliance Communications corporate clientele includes over 39,000 Indian and multinational corporations including small and medium enterprises and over 290 global, regional and domestic carriers.
Reliance Communications has established a pan-India, next generation, integrated (wireless and wireline), convergent (voice, data and video) digital network that is capable of supporting best-of-class services spanning the entire communications value chain, covering over 21,000 cities and towns and over 400,000 villages. Reliance Communications owns and operates the world’s largest next generation IP enabled connectivity infrastructure, comprising over 280,000 kilometers of fibre optic cable systems in India, USA, Europe, Middle East and the Asia Pacific region.
