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sbi mobile bank |
SBI to allow mobilebanking without bank account. SBI being one of the biggest public
sector bank in India. SBI entered the market of mobile marketing as a
financial service to its consumers with the help of WAP and SMS
banking. SBI started a pilot project that would allow banking through
mobile phones even if their customers don’t have a bank A/c. The
scheme is called mobicash.The service is like a mobile prepaid card
allow money to be loaded on customers mobile that he can then spend.
THE PURCHASE OF THE
CARD:- The
card can be purchased from specialised service providers by even
those who don’t have a bank account. Customers need to pay rupees
60, a nonrefundable charge, to specialised service and load a minimum
amount of Rs.200 the 1st
time. The prepaid instrument launched in partnership with oxygen a
service provider, offer facilities like money transfer, payment at
merchant establishments and top ups for mobile prepaid cards.
State bank of India estimated that currently
cash and cheque payments dominate banking transactions with share of
49 % of these are expected to go down to 15% by 2020. Mobile banking
constitutes just 0.1% of total
banking transaction, would be 2nd
largest channel after ATMs. The report says and expects around
20%-30% of transaction happen via mobile phones by 2020.
Public sector banks can be mobile banking a
financial inclusion plot without setting up branches. SBI estimated
that while a transaction at branch on an average cost Rs.45. a
transaction through ATM costs Rs.20 and a transaction through mobile
would cost just Re1.
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Volume et valeurs des transactions |
MARKETING
STRATEGY:-Participation in various consumer
exhibition of meeting:
- SBI meets an opportunity to educate people about its personal
segments product and services. Tie-ups
with oxygen sim card company and target all their customers.
Advertising in TV and newspapers SBI has a
campaign also to attempt to explain why it is better than other
banks. SBI has launched an education
initiative to educate its customers about
mobile banking. Oral marketing by
telling sim card providers to teach them about mobile banking and the
ease of use. Banking over mobile from anywhere in India. Introduction
of mobile banking follows the relatively successful introduction of
internet banking in India. The mobile phone network is the most
likely platform value added services such as online banking and
mobile consumers. Several issues both technological and cultural mar
the adoption of mobile banking. It has a fast growth in urban India.
Banking over mobile from anywhere in India without physical premises
there. Reduces delays in banking transactions and affordable time to
employees for other banking services.
Number of internet users
is small in comparison to mobile phone users in India. Security
concern is the biggest barrier to adoption of mobile banking. There
are more people using a mobile phone than a bank account in India.
Setting up a bank branches is not only expensive but time consuming.
Account to studies it could easily take more than two decades for
bank branches to reach entire 1.2 billon people. Banks will be able
to approve and give loans via mobile banking within next five years.
This with further reduce the need to go to a branch.
First, the ability to save has improved for a majority of users
through SBI mobile banking by comparison to earlier practices such as
keeping cash on hand. These informal forms of savings often are
susceptible to unnecessary and trivial expenditures or claimable by
friends/relatives.
Second, SBI mobile banking has become a very
effective, safe, and trustworthy savings instrument for its users;
importantly, dependence on risky informal methods has decreased for a
large percentage of customers who were previously dependent on these
practices for lack of affordable and safe savings options.
Third, SBI mobile banking
is perceived as a good substitute to both traditional banking and
informal forms of savings; however, it has not dispelled the need for
these existing savings mechanisms. SBI is used as one among many
other savings mechanisms—including informal methods—by a sizeable
percentage of customers. Fourth, SBI mobile banking is used in
conjunction with or as complementary to an existing saving practice.
Finally, as per the preference of SBI mobile banking over other forms
of savings, users had diverging views. The majority of users consider
SBI mobile money accounts as a preferred alternative for small
savings.
At the same time, in spite of an expressed preference for
SBI mobile money, one-third of users became inactive following the
introduction of transaction charges for deposits and withdrawals. In
fact, a considerable minority of customers is concerned about the
possible increase in the cost of SBI transactions. This would
potentially make the service less attractive to those who are looking
to save in small amounts.
SBI
mobile banking has increased the capacity of low-income users to
save. According to the study, 90 percent of users (N=144) state that
their ability to save has increased with the mobile banking services
of SBI. In response to a query about the extent of this improvement,
57 percent of users stated their ability to save had ‘definitely
improved’ and 41% noted that it had become ‘somewhat better’
after opening an SBI account. Users gave three important reasons for
this positive effect of SBI mobile accounts on their overall savings
behaviour. First, keeping money in the SBI mobile accounts is much
safer than keeping cash on hand (84 percent). Second, having a mobile
account enables users to avoid wasteful expenses and to save rather
than spend, thus inculcating better saving habits.SBI customers
consider the services as safe and trustworthy because their savings
are securely deposited with the State Bank of India, whose brand name
as a leading public sector commercial bank in India lends
credibility to the activities of its business correspondent, after
becoming SBI mobile banking customers, dependence on risky and costly
alternatives in informal savings practices (keeping cash at home,
under the mattress, or on person) largely diminished because SBI
mobile account became a safe saving option.11% of the respondents who
had ‘no savings’ before SBI accounts were able to save after they
opened their SBI accounts because it created an incentive to save.
While all users in the study had stated that they found a new method
of saving mechanism in the SBI accounts, more than 10 percent of the
users with bank accounts found it a better alternative and shifted to
saving in mobile money accounts.SBI mobile banking is a preferred
alternative for small savers. Asked about their preference for saving
in small lump sums of Rs. 1,000 to 2,000 ($20 to $40), 79 percent of
users in the study preferred SBI mobile banking accounts as against
26 percent who preferred saving at bank.
CONCLUSION : Mobile banking and mobilepayments can help in creation of mobile based digital cash economy
that is more efficient, transparent and inclusive. For this, the
regulators as well as banking and telecom industry will need to make
a coordinated attempt to delay effective services, educate potential
customers and speed up adoption. Higher collaboration between banks
ad telecoms will impact mobile adoption in India. Innovative
solutions provide security speed convenience ease of use and
interoperability should help players gain high acceptance. The
study brings forth several insights regarding the effects of SBI
mobile banking on the savings behaviour and practices of low income
users in the metropolis of Delhi. A critical finding is that SBI
mobile banking service is valued as a boon for small savers and users
who depended on risky informal savings practices. In particular, a
high percentage of users save in SBI mobile banking for emergencies.
More importantly, it is
considered as a robust substitute to many informal savings mechanisms
as well as a bank account. Yet, savings behaviour indicated that SBI
mobile banking accounts have not dispelled the need for some of the
savings mechanisms used earlier because different savings methods
were perceived as having their own usefulness and purpose. Contrary
to expectations, in addition to making payments and deposits easier
and more accessible, SBI mobile money accounts also seem to improve
efficiency and regularity of other savings mechanisms. Overall, the
positive perceptions of mobile banking in the daily lives of SBI
account holders are an encouraging sign of the potential of mobile
money for expanding the financial inclusion of large numbers of low
income households in India.
The negative perceptions of non users
with regard to their saving capacity speak on the one hand, to their
irregular income and, on the other hand, to their lack of awareness
of the potential of mobile banking for improving creative strategies
for reaching out to the poor in India and elsewhere. This alone will
ensure their financial inclusion home.
by akshay Kothari,
anudeep dongre .s, chanda pokharna - Esc Pau MBA franco-Indien - Avril 2014.
IDBI Bank is here with its SMS Banking facility, permits you to access your Bank account and carry out various banking transactions and inquires through your Mobile Phone.
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