Transaction done through Mobile is as save as Internet Banking .
If Transaction is done through Mobile Banking Application such as ngpay & iMobile downloaded on the cell phone.
Transaction done through SMS is not that secure.
Is Mobile Banking Secure????? Bank offers this facility to its customer free of cost. But, Telecom Operators will levy charges for use of GPRS (General Packet Radio Service) facility . The Cost depends upon the plan which is being chosen.
If Mobile is lost?????? As correct PIN is known to you that is required to carry transaction through this Channel. So, there is no Danger!!!!!!
Procedure to carry a Transaction through Mobile!!! There are 2 ways :- GPRS- Enabled Mobile Phones SMS- Based Transactions
1. GPRS- Enabled Mobile Phones Step:1 – Register for Mobile Banking Service with your Bank. You will get an SMS with link for downloading application . You can download it by visiting the Relevant URL. Step:2 – Once you install the application &follow instruction & set a MPIN(Personal Identification no. ) for carrying out the transaction. Step:3 – Once Mobile Banking a/c & MPIN is activated & than start m-commerce.
2. SMS- Based Transactions Step:1 – Register for the Service with Bank. Step:2 – Type a Message like– Pay<Merchant Code><Amt.><MPIN> to No. specified by Bank.