A senior official of the National Payment Corporation of India (NPCI) has suggested that certain non-financial transactions such as balance enquires could be shifted from bank ATM machines to mobile phones. The NPCI is talking to mobile operators about using the unstructured supplementary service data (USSD) channel to inform users about their bank balances, according to Economic Times.
French payments venture Buyster launched its mcommerce service in its home market on September 13. The internet payment venture, which originally set itself a mid-2011 launch date, allows users to make purchases through both mobile and fixed connections.
Canadian research firm IE Market Research (IEMR) predicts the gross value of global mobile payment transactions will reach US$945 billion in 2015, a 30-fold increase from the figure of US$31.5 billion in 2010.