INSTANT INTERBANK MOBILE PAYMENT TRANSFER -HOW???

Posted: 11 Jan 2011 06:17 AM PST

Currently majority of interbank mobile fund transfer transactions are channelised through NEFT mechanism. Under NEFT, the transactions are processed and settled in batches, hence are not real time. Also, the transactions can be done only during the working hours of the RTGS system. In the above context, NPCI has carried out a pilot on mobile payment system initially with 4 member banks viz State...

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