Reliance Communications (RCom) has announced the readiness of its USSD platform, which will enable mobile banking transactions for its customers.
The company has successfully completed the testing of the service at Dhirubhai Ambani Knowledge City, Navi Mumbai, on various types of GSM handsets, RCom said in a statement.
USSD, or Unstructured Supplementary Service Data, is a technology capability built into the GSM standard phones to support transmitting information over the signalling channels. It provides session-based communication, enabling a variety of applications.
RCom has integrated National Payment Corporation of India (NPCI) gateways with charging systems and USSD gateways located in Mumbai. NPCI will manage the banking menu and call flow with respective banks, the company said in a statement.
“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 unbanked sections of society, and RCom’s endeavor is to bridge this gap with its customised solutions,” Vinod Sawhny, Chief Executive Officer at RCom, said.
Subscribers will be charged Rs 1.50 per session, as mandated by TRAI, it said.