Mobile banking is a banking system for mainly unbanked population using which a registered mobile holder can depost &withdraw money from an agent,transfer money from his mobile account to another mobile account,receive remittance from abroad,pay shopping bills and utility bills,receive remittance from abroad,pay shopping bills and utility bills,receive salary and various government allowances,and top up airtime for his own mobile etc.
Payment of shopping bills is a P2B (person to business) activity which may be called as M-Commerce.Using this function of mobile banking the customer can buy goods and services from a shop or restaurant (called merchant) and pay bills by transferring money from his mobile account to the merchant's mobile account.
At present only 13% of the population in Bangladesh is maintaining bank account while 45% are having a mobile phone.Thus using a mobile banking technology ,a huge unabnked population can be brought into the baking system.The banking activity can also be extended to the rural areas where there has no presence of bank.This will also stop informal remittance both local and foreign.
Payment of shopping bills is a P2B (person to business) activity which may be called as M-Commerce.Using this function of mobile banking the customer can buy goods and services from a shop or restaurant (called merchant) and pay bills by transferring money from his mobile account to the merchant's mobile account.
At present only 13% of the population in Bangladesh is maintaining bank account while 45% are having a mobile phone.Thus using a mobile banking technology ,a huge unabnked population can be brought into the baking system.The banking activity can also be extended to the rural areas where there has no presence of bank.This will also stop informal remittance both local and foreign.
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