Types Of Mobile Banking Available Now


BANGALORE: By now many of you have heard of Mobile Banking but, do you actually know what it is? Mobile banking is a system that allows members of financial institutions to conduct a number of financial transactions through a mobile device such as a mobile phone or tablet. 

The different types of mobile banking technologies are classified by the way a financial institution chooses to communicate with members and allow access to financial services. Most of the technology applications that financial institutions use integrate with smart phones, such as the iPhone, Blackberry and Android.

Let’s have a look at the three widely available types of mobile banking technologies:

1. Web Browsers

The mobile web browser also known as WAP (Wireless Application Protocol) allows financial institution members who have smart phones or tablets access to a modified version of the institutions online site. i1Full account access is given from the site, allowing you to monitor account activity, request account transfers and make payments.

Accessing the financial institution’s website from a mobile phone or tablet does not usually result in a charge from the financial institution but, you could possibly see a charge depending on the conditions of your mobile service provider.