SMS Banking A New Way to BANK

Businesses are in move. So is to be your money. You may have to thank the banks which are providing banking at the send-of-your-sms. The technology is at its highest level to move your money while you are on the move. If you are having non-WAP enabled mobile handset, you can use the facility of SMS services. The following operations can be easily used by the service provider:
Balance enquiry
Last three transactions
Cheque payment status
Cheque book request
Statement request
Demat - Free Balance Holding
Demat - Last two Transactions
Bill Payment
The SMS facility brings peace of mind to customers and opens doors to many more technological possibilities and innovative services. It is very similar to how an ATM works.

To use ATM, a card is necessary and to use SMS service, a mobile phone is needed. In both the cases, secret number is necessary to access.

SMS banking is also very much safe. First, one authenticates the mobile number with the authentications key. Second, the customer uses secret Mobile Personal Iddentification Number (MPIN).

A new concept has been developed by Bank of Punjab Ltd. They call it "Mobile Wallet". With the support of this technology, a customer can make payment and receive payment of account of buy/sell (merchants) through SMS.

In this system, a buyer sends a message for buying and the bank in return sends a message confirming the purchase both to the merchant as well as to the buyer. Debit card number is the key field which is used for the authenticity of the customer.

The processes of the service are simplified as under:

Customer has to send "REG(one space)(Account Number)(one space)(Debit Card Number)" as an SMS to bank's mobile number 9810999992 for registration. For e.g. "REG 06SB11052122 5047531105000109109" Bank will confirm the registration with the return message.

After that customer will visit nearest branch to collect the service brochure and get it filled.

Registration will be a one time process.Once registered, customer would be able to buy things from any of the registered merchant of the bank.

Customer need to send "PAY(one space)(merchant code)(one space)(amount)(one space)(Debit card number)" as an SMS on bank's mobile number 9810999992. For e.g for making a payment of Rs. 56.16 to merchant BOPSTC from card no. 5047531105000109109, Send the following message "PAY BOPSTC 56.16 5047531105000109109"

The transaction will be validated online and immediately funds will be transferred from customer account to merchant account.

Bank would send transaction confirmation as an message to both merchant and customer(buyer).

An SMS report will be sent to both merchant & buyer everyday stating the total number of transaction & total amount of transaction made during previous one day.

For More Details About Messaging and BulkSms visit http://www.routesms.com/