Mobile based banking services is not a big thing today. All major banks providing mobile facilities to check their account, pay bills and transfer the money from one account in to other.
But the question is about the credibility of such applications. usually the software vendors are providing such mobile softwares to the banks and its customers. and a few banks having their own development team for doing such tasks.
There is a huge market in such mobile based banking software today. if a provider can deliver quality programs with a fool proof security can win the race. but a country like India, is still far behind in using such online applications other than the direct banking.
Millions of mobile users are adding up in every year. and thus the potential for this segment too. but i am doubted about whether we are successful in tapping such an opportunity in a right way.
Once mobile banking catches on,we can make purchases at department stores, supermarkets etc.. To take that next step, phone makers must embed a chip capable of near-field communication (NFC) that will work with special readers in stores, exactly like the contact-less credit and debit cards that are now available.
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