Editor
These telecom operators believe that this measure can ease the burden of masses, primarily by encouraging the customers who use feature phones to adopt mobile banking.
As per latest information Vodafone, Airtel and Idea Cellular have announced the waiving off all USSD carhges (Unstructure Supplementary Service Data) presently levied for mobile banking till 31st December, 2016.
In a statement CEO and MD of Vodafone said, ‘Vodafone India is committed to helping actualize the Government’s several initiatives designed to make India a digital economy. To ease the burden of masses, we are waiving off all USSD charges presently levied for mobile banking till 31 December 2016’.
In addition he also added, ‘As several million customers use feature phones, we are hopeful that this free access to mobile banking will encourage them to adopt it as their preferred and convenient mode for banking’.
However, Bharati Airtel Official said, ‘To support customers during the ongoing demonetization exercise, Bharti Airtel has waived off transaction charges for all USSD-based mobile banking transactions over its network till December 31, 2016. We would encourage customers to leverage this benefit for their convenience’.
USSD service allows to access banking services through short code *99# irrespective of mobile carrier for customers. The subscribers have to type the first 4 digits of the IFSC code of tha bank to access the USSD based services.