RCom ready with USSD platform for mobile banking

Reliance Communications (RCom), on Wednesday, said it is now ready with its Unstructured Supplementary Service Data (USSD) platform that would enable mobile banking transactions for its customers.The Anil Ambani-promoted 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 is a technology that provides session-based communication, enabling a lot of applications. RCom has integrated National Payment Corporation of India (NPCI) gateways withcharging systems and USSD gateways located in Mumbai. NPCI will manage the banking menu and call flow with respective banks, RCom said in a statement.

"Financial inclusion is a national priority and we are proud to launch this platform whichcan offer basic financial services even in areas that are beyond the reach oftraditional banking. Mobile technology has a crucial role to play in servicingthe under-banked and unbanked sections of society, and RCom's endeavor is tobridge this gap with its customised solutions," Vinod Sawhny, Chief Executive Officer at RCom, said in a statement. Subscribers willbe charged Rs 1.50 per session, as mandated by TRAI, it said.