Literature review on mobile banking
Some of the challenges faced by the nigeria are sustainability of of growth and progress, requisition of funds for marketing of mobile banking, development of promotion of it, security and privacy issues, middleware issues devices, network and protocol limitation, different standards ( and v. In past 2 to 3 years mobile banking advance itself to the extent that it increase three times if we go on comparison with debit/credit cards banking (mahesh .
Literature review on mobile phones
Major regulatory issues which set around the branchless banking some of them are; 1- the risk of failure after introduction, a high profile failure lead to failure of all branchless schemes in which a high risk involved, 2- non-bank institution must be introduce why only trust bank and presently using model of bank led is not always successful there must be bank led model at bank because mobile operator is a trustable authority and mobile operator can provide facilities such as a transaction can be traced geographically that a bank can never provide and mobile operator can know location exactly well than banks where a money is going to transfer and where it's going to be received. There is no significant difference in the customer perception of mobile banking service quality dimensions based on respondents’ study employs primary data as well as secondary data.
Various threats such as cloning and use of "magic cards" in advance era make mobile unprotected. Anaysi and otubu (2009) have shown the economic effect of mobile banking and found out that it is offering different services to its customers.
Significant the number of students ( 11%) are also using mobile banking is and they are future prospect for the banks when they will enter into any profession. It is also require that mobile banking facilitator supervise risks of fraud and illegal activities under the rules of know your customer (kyc) (cau, 2010).
Regulation that have been used for traditional banking can't be used for mobile banking because the risks of traditional bank and risks of mobile banking can't be equal so there is a need to develop more regulation for mobile banking, there are some areas in which the regulator attention is more require for example, making legal anti money transaction, agency rule, fullfilment cost of regulation, foreign exchange controls, payment regulation for non-banks, i. In 2009, telenor has launched easypaisa( first mobile banking platform) with the help of tameer bank (a microfinance bank mostly owned by telenor).
The study also has examined the following about mobile banking :• to find the factors associated with customer’s perception towards the adoption of mobile banking. The result suggests that there are no significant differences in the perceptions for any dimensions of mobile banking service quality except “mobile banking services are safe ” hence we accept h04: and conclude that here is no significant difference in the customer perception of mobile banking dimensions based on respondents’ income .
Individuals who have been using mobile banking services since last six months were targeted for the ng unit: in this study, the sampling unit was the customers of different banks who had an account in any branch located in national capital region delhi and have been using mobile banking facility. Suoranta (2003) found that the average mobile banking user is married, 25 to 34 years old, has intermediate education and average income in clerical work.
It also found that mobile banking usage is not associated with demographic variables except age and education. For customers, mobile banking is convenient while banks benefit through a lowcost sbi group dominates this space in volume terms with an overall share of 67.
Luo, et al (2010), defined mobile banking as an innovative method for accessing banking services via a channel whereby the customer interacts with a bank using a mobile device (e. The result suggests that there are significant differences in the perceptions of respondents for “money transfer facility is reliable and fear of running out of battery during transaction” all other dimensions of mobile banking service quality across the age group do not show any significant different in their perception .
The mobile carrier's obligation to verify the origination and termination of a telecommunications transmission is mainly to ensure that a call is completed, and, that customers are accurately billed for the service. There are some factors which make the adoption of mobile banking service easy for the customers and those are convenience, cost, security, confidentiality, handset operability, procedure and knowledge and ance of mobile banking has lot of advantages for both providers and those who avail the services.
Faced by the bank during implementation of mobile banking in bangladesh are, difficulty in selection of right software, huge investment in purchasing the software, license, inability to do interbank transaction as the national payment switch is not in place. Prepaid mobile recharges, dth recharges, ticket bookings (movies/travel) are among the fast growing transactions in mobile present more than 65 banks have been approved for conduct of mobile banking out of which 47 banks have commenced offering these services.
Cope with low price charged to the customer is a also a hidden challenge for financial institutions because mobile banking is based on the revenue sharing model but in order to attract and retain customer low price than e-banking and previous banking service must be target(caroline boyd, 2007). While introducing various applications for mobiles such as wap based solutions create difficulty in uniform standards.
In regulation, clearly define those activities and institutional arrangements for mobile banking that directly focus on licensing, regulation and management by financial authority. This clearly indicate the education plays an important and significant role in adoption of the mobile banking.
40 million urban indians used their mobile phones to check their bank account balances followed by viewing last three transactions. 2008) found that there are a large number of different mobile phone devices and it is a big challenge for banks to offer mobile banking solution on any type of device.
Back to march 2007 first time the policy and regulatory paper was issued by sbp on a base of branchless banking (which can provide the financial services to the people who are underserved or unbanked). This model only one bank gets in agreement with a telecom company to provide mobile banking services to the customer.