Allow mobile banking registration at ATMs: RBI to banks


Allow mobile banking registration at ATMs: RBI to banks

The Reserve Bank today asked all the National Financial Switch (NFS) member banks to make changes in ATM switches by March 2016 to help customers register for mobile banking services.

The National Payments Corporation of India (NPCI) has developed the mobile banking registration service/option on the National Financial Switch (NFS) and the service is ready to be deployed on ATMs of all the NFS member banks.

“In view of the above, all the banks participating in NFS should carry out necessary changes in their respective ATM switches and enable the capability of customer registration for mobile banking at all their ATMs latest by March 31, 2016,” RBI said in a notification.

Besides, the RBI asked banks that they should also strive to facilitate customer registration for mobile banking through other channels including internet banking, IVR, phone banking.
It said customer registration is important pre-requisite for offering mobile banking services and the banks should use multiple channels to create awareness among their customers regarding mobile banking services and options available for customer registration.

The RBI said India has high mobile density and it is focusing to encouraging banks to leverage on the mobile channel for widening the access to banking services.

“Irrespective of whether the services are offered through SMS, USSD or application channels, customer registration for mobile banking is critical,” RBI said.

The RBI said there is a need for simplification of procedure and greater degree of standarisation in procedures relating to registering of customers for mobile banking.


Leave a Reply

Your email address will not be published. Required fields are marked *