Mobile Banking

Mobile banking
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Mobile banking (also known as M-Banking, mbanking, SMS Banking) is a term used for performing balance checks, account transactions, payments, credit applications and other banking transactions through a mobile device such as a mobile phone or Personal Digital Assistant (PDA). The earliest mobile banking services were offered over SMS. With the introduction of the first primitive smart phones with WAP support enabling the use of the mobile web in 1999, the first European banks started to offer mobile banking on this platform to their customers[1].
Mobile banking has until recently (2010) most often been performed via SMS or the Mobile Web. Apple 's initial success with iPhone and the rapid growth of phones based on Google 's Android (operating system) have led to increasing use of special client programs, called apps, downloaded to the mobile device. Contents [hide]

References: * Owens, John and Anna Bantug-Herrera (2006): Catching the Technology Wave: Mobile Phone Banking and Text-A-Payment in the Philippines PROBLEMS AND PROSPECTS OF MOBILE BANKING IN BANGLADESH International Refereed Research Journal ■ www.researchersworld. com ■ Vol.– III, Issue –1,Jan. 2012 [47] -Journal of Arts, Science & Commerce ■ E-ISSN 2229-4686 ■ ISSN 2231-4172 E-business has been continuously growing as a new industry during the last decade (Van Hoeck, 2001). The banking industry has been leading this trend in recent years, and now all banking transactions completing through internet applications is sometimes called e-banking (Boss et al., 2000; Smith, 2006; Hwang et al., 2007; Shin, 2008) stored value cards, and debit cards (Servon and Kaestner, 2008). Consumers are attracted to these technologies because of convenience, increasing ease of use, and in some instances cost savings (Anguelov et al., 2004) electronic delivery systems to open new business opportunities for the banking industry (Ebling, 2001). financial service sector (Byers and Lederer, 2001). In the search for sustainable competitive advantages in the technological financial service industry, banks have acknowledged the value to differentiate themselves from other financial institutions through new service distribution channels (Daniel, 1999). functions that would traditionally be carried out over the counter (Giannakoudi, 1999). The rise of electronic payments media such as debit and credit cards has caused the value of paid in the USA to fall to – from about $49 billion in 1995 to about $42 billion in 2002 (Gerdes and Walton, 2002). Hudgins, 2005). A more recent e-banking development is wireless internet applications of banking sometimes called m-banking (mobile banking) (Choi et al., 2006; Scornavacca and Hoehle, 2007) Corbitt, 2003). It is believed that m-banking will provide another new channel for banking services, especially for certain remote areas where online internet is still unavailable perception of m-banking services are explored (Laukkanen and Lauronen, 2005) with a focus on the consumer value creation and a better understanding about the customer-perceived value of m-banking services instance, mobile internet service has been quite popular in Japan (over 60 millions users in 2003) especially for those young and single (i.e., unmarried) consumers (Scornavacca and Barnes, 2004). requirement anymore; accessing accounts can occur while users are waiting their turn at the dentist clinic or relaxing at the beach! (Al-Akhras and Qwasmi, 2011). banking culture. The barriers to mobile banking adoption were lack of awareness and understanding of the benefits provided by mobile banking (Laforet, 2005). International Refereed Research Journal ■ www.researchersworld. com ■ Vol.– III, Issue –1,Jan. 2012 [48] -Journal of Arts, Science & Commerce ■ E-ISSN 2229-4686 ■ ISSN 2231-4172