Payment
ACHIEVING EXPONENTIAL GROWTH THROUGH
EFFECTIVE COLLABORATION AT TECHNOLOGY LEVEL
BETWEEN BANKS, TELECOM OPERATORS BY
CREATING A UNIFIED COMMUNICATION PLATFORM
TABLE OF CONTENTS
Mobile Banking & Payment................................................................................................ 3
Objective............................................................................................................................ 3
Issues with Current Eco-system......................................................................................... 3
Few Examples................................................................................................................. 4
Limited Reach................................................................................................................. 4
Multiple integrations....................................................................................................... 4
Current Implementation..................................................................................................... 5
Proposal............................................................................................................................. 6
Government Services......................................................................................................... 8
Role of various entities..................................................................................................... 10
OBJECTIVE
All the payments can be modelled as P2P (Party to Party) payment
The above objective can be met by effectively using the NPCIs IMPS service
http://www.npci.org.in/IMPSVideos.aspx
Example of a Person to Person payment
Bank may choose to make SMS, USSD, GPRS based or any other channel based
application as per RBI guidelines to the end consumers.
Fragmented communication
Every bank uses their own method, channel to enable and promote service
Telecom operators use their own channel and communication mechanism to
promote mobile commerce
1.1
FEW EXAMPLES
Federal Bank
Customer need to send SMS to 98950 88888 or 5676762 in the following format
IMPS <beneficiary mobile no> <beneficiary's full MMID> <Amount to be transferred>
<last 3 digits of MMID of remitter>
Citi Bank
Use Citi Mobile application
SBI
Using SBIs mobile banking application or
Customer to send SMS to 9223440000
<IMPS><Mobile No>< MMID>< amount><User ID><MPIN><Purpose(Optional- 20 Char)>
Union Bank of India
Using UBIs mobile banking application
1.2
LIMITED REACH
Smart Client application which need to be downloaded on the mobile needs GPRS service
and is complex to use for layman and hence is a major deterrent for mass market
adoption.
1.3
MULTIPLE INTEGRATIONS
Most telcos are approaching the banks to enable mobile banking, this is resulting into
telcos providing separate connectivity to the bank and having a separate business and
technical integration.
CURRENT IMPLEMENTATION
Telecom Network
Telcos
PROPOSAL
Develop a common communication platform
Everyone dials the same code to access the service Ex. *158# to access mobile
banking & commerce service
All telcos connect to the common communication platform
All banks connect to the common communication platform
Communication platform to provide rendering layer - the implementation to strictly
follow all security and regulatory requirements prescribed by regulatory authorities
and individual entities like Banks and Telecom Operators
Use same concept for government services, mobile payment, mobile banking
Merchant Network
Banks
GOVERNMENT SERVICES
10
SMS Aggregators
To send SMS to customers
Reminders
Receipts
Other Information
11