TCS working on cell phone banking technology

By agencies   |   Monday, 27 March 2006, 08:00 Hrs
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PUNE: Will mobile phones remain telephone instruments? Or would they take on the hues of entertainment or even allow banking facilities to happen?

According to S Ramadorai, Chief Executive Officer and Managing Director, Tata Consultancy Services, “Mobile phones would become more of a utility device and would shed their image as a normal phone.”

The company is conducting pilot projects in South-East Asia where it is trying to incorporate a chip inside a mobile phone, which would help in banking transactions.

Ramadorai said technology and the incorporation of cards in mobile phones had already been done.

As an initial step, this technology would be used in the banking industry. "The idea is to conduct payments by making a call and not use cheques as instruments,'' he said.

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