MOBILE BANKING
By Nadeem Basha
1
What is Mobile
banking?
Mobile banking is a service
provided by a bank or
other financial institution that
allows its customers to
conduct financial
transactions remotely using
a mobile device such as
a smartphone or tablet.
2
ADVANTAGES OF MOBILE
BANKING
1. In Mobile banking, the user can transfer funds from
your bank account to another bank account with a
smartphone just with the help of the internet, from
anywhere to everywhere.
2. It is available for 24 hours and easy and convenient
mode for many Mobile users in the rural areas.
3. Mobile Banking is said to be more secure and risk
free than banking at banks
3
HISTORY
The earliest mobile banking
services used SMS, a service
known as SMS banking. With
the introduction of smart
phones with WAP support
enabling the use of
the mobile web in 1999, the
first European banks started
to offer mobile banking on
this platform to their
customers.
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MOTTO OF MOBILE BANKING
“bank on your own time"
5
TECHNOLOGY TRANSFER
Electronic funds transfer (EFT) are electronic transfer of money from
one bank account to another, either within a single financial
institution or across multiple institutions, via computer-based
systems, without the direct intervention of bank staff.
6
TYPES OF EFT
• automated teller machine (ATM) transfers;
• direct deposit payment or withdrawals of funds initiated by the payer;
• direct debit payments for which a business debits the consumer's bank accounts for
payment for goods or services;
• transfers initiated by telephone;
• transfers resulting from credit or debit card transactions, whether or not initiated
through a payment terminal.
• wire transfer via an international banking network such as SWIFT;
• electronic bill payment in online banking, which may be delivered by EFT or paper
check;
• transactions involving stored value of electronic money, possibly in a private
currency;
• instant payment.
7
E WALLETS
A digital wallet refers to an electronic device or online service that
allows an individual to make electronic transactions. This can include
purchasing items on-line with a computer or using a smartphone to
purchase something at a store. An individual's bank account can also be
linked to the digital wallet.
8
Hardware wallet
Hardware wallet is some as your regular wallet except it consists of a digital device to operate your
account. To use hardware wallets, you will first need a software wallet to interact with the device and
although all hardware wallets have their own default software wallets.
Online wallet
You can operate online wallets through the computer, laptop, and mobile devices like iPad, tablets, and
Smartphone as long as they have an internet connection. It has been used by many people because
they are cheap easy to use and can be accessed from the need to have is an internet access.
Mobile wallet
Mobile Wallets are essentially digital versions of carrying a mobile in their pocket. Many companies are
jumping into the mobile payments space on both the paying and receiving sides of the transaction.
Mobile wallets also store your loyalty cards, coupons, tickets, etc
They communicate with terminals using a variety of technologies.
Paper wallet
Paper wallet one of the most secure way to store cryptocurrency.
To make the transaction, you need to type the complete key.
The only drawback of using paper wallet is that you required time to operate and technical
understanding.
9
47 million people in INDIA
uses Mobile Banking
10
FEATURES OF MOBILE BANKING
• Bank account management through mobile
itself
• ATM locator which helps you to locate ATM
nearby you
• Tracking speed of your transfer
• Cashback Offers
• Alers and notifications
• Can Check account transactions from anywhere
• Save your precious time by using mobile
banking and skip the queue
11
DRAWBACKS OF MOBILE BANKING
Security threat fear of hacking mobile
phone
Fear of mobile theft
Fear of forgetting login passwords
Technical errors
Network issues
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THANK YOU
