Indian mobile banking boosted

The National Payment Corporation of India's Inter-bank Mobile Payment Service has rolled out a service enabling people to transfer money from their accounts to any other account using their cellphones, reports, The Hindu.

The facility allows transactions without the need for a computer or an Internet-enabled phone.

This is in a region consisting of a higher mobile phone Internet penetration than broadband Internet, with more than 670 million registered mobile phone subscribers, according to the Telecom Regulatory Authority of India.

Tertiary institutions in Ghana account for 34% of the volume of transactions on e-zwich ATMs, states My Joy Online.

This is according to new statistics released by the Ghana Interbank Payment and Settlement System.

The e-zwich ATMs are used largely to load funds on the electronic payment cards and to receive money transferred to them. They are currently installed in four universities with plans to roll them out to other tertiary institutions in the country.

The Infocomm Development Authority of Singapore (IDA) has issued a call for collaboration with the industry to develop a platform for mobile payment services, says Future Gov.

This is part of IDA's Next Generation e-Payment Programme, which aims to accelerate the adoption of mobile payment services using near field communication (NFC) technology, which enables location-based transactions.

According to IDA, the project will establish “a secure, interoperable and scalable NFC infrastructure that provides an open and cost effective means for service providers to provide NFC mobile services to any mobile subscriber.”