The present era is witnessing the growth of an extremely mobile generation, thanks to handheld communication devices like mobile phones or cellular phones. Today's youth, they say, cannot live without a mobile phone. It is like a sixth finger for them.
Also, various organizations cutting across the sectors have started reaching their targeted customers, marketing and sales personnel through mobile telephony. The banking sector, the fulcrum of the economy, has also realized the mobile phone's huge potential of reaching customers within no time. In future, analysts predict that mobile phones will replace credit cards, debit cards and online banking, which are very vulnerable to identity thefts and malpractices.
On the other hand, the mobile communication technology that covers even the remotest part of the country, and affordable even to the people who are enlisted under the Below Poverty Line (BPL) category, holds the key to future banking. Researchers are working on the feasible, hassle-free and user-friendly mobile platform. |
