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Mobile banking

Name iof ithe iauthor: iSharvari iVinod iKhot.

Name iof icollege: iPatkar iVarde iCollege iof iarts, icommerce iand iscience.

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Gmail: isharvarikhot05.sk@gmail.com.

Contact: i9004148092.

Net ibanking ion ionline ipayment itransfer ithrough iMobile iapp.

Abstract: i

Mobile idevices iare iexploding iin iIndian imarket. iDue ito ithis, ieasy iE-COMMERCE, iNET iBANKING iand idigital irelated itransaction iare igrowing iat ifaster ipace. iAs ismart iphone iare iplaying ivital irole iin iday ito iday iactivities iof ian iindividual i”,this iis iand iapproach ito iprovide iconsumer isecure ionline ipayment itransfer ithrough iAndroid iapplication iwithout irushing ito ian iactual ibank i.Such iactivities iincluding itransfer ipayment ionline ibuying iand iselling i, iinvestment”,B2C iB2B iMODULES.Net ibanking iwebsite iof i ia iparticular ibank iconsist iof itime ilimit ifor itransfer ipayment ifor ian iindividual i.The iamount ilimit ifor itransactions iwhich iunable ithe iindividual ito itransfer ihuge iamount i.As i ithere iis iless iawareness iamong i ithe ipublic iabout ithe ionline itransactions i, icommoners iare iunaware iabout ithe ionline isecure itransaction i.There iis ia isought iof i iinsecurity iregarding ionline ipayment iand itransactions i.As ithe itraditional ibanking iand ibanking iwebsite iare itime iconsuming iwhich ibrings ilimitations ifor ian iindividual i.Cybercriminals ican idisable ionline ipayment imethods ior iexploit ithem ito isteal ipeople’s imoney ior iinformation. iUsually ithe imajority iof ielectronic ipayment isystems ido inot icooperate iwith ieach iother. iIn ithis icase, iyou ihave ito iuse ithe iservices iof ie-currency iexchange, iand iit ican ibe itime-consuming iif iyou istill ido inot ihave ia itrusted iservice ifor ithis ipurpose. iOur iarticle iis ihow ito ichoose ithe ibest ie-currency iexchanger igreatly ifacilitates ithe isearch iprocess. iThe iinformation iabout iall ithe itransactions, iincluding ithe iamount, itime iand irecipient iare istored iin ithe idatabase iof ithe ipayment isystem. iAnd iit imeans ithe iintelligence iagency ihas ian iaccess ito ithis iinformation. iYou ishould idecide iwhether iit’s ibad ior igood. i

If iInternet iconnection ifails, iyou icannot iget ito iyour ionline iaccount. i

In igeneral, ithe iadvantages iof ielectronic ipayment isystem ioutweigh iits idisadvantages iand ithey ihave ibigger iopportunities icomparing iwith iones iof itraditional iwire itransfers. i

This iresearch iaims iat icreations iof ia isecure ionline ipayment itransfer ithrough iAndroid iapplication.

Keywords: isecure ionline ipayment, iquick iaccess, imodules.

Introduction:

India ileads ithe iworld ifor iregular imobile ibanking iusage ias ia iproportion iof ionline iconsumers iwith icurrent iaccounts, iwhile iSweden ihas irisen ito isecond iplace iin ithe iglobal irankings ithanks ito ithe ifastest igrowth iof iany icountry ibetween i2016 iand i2018, iaccording ito ileading idata iand ianalytics icompany iglobal idata. iThis ieconomic igrowth iof iIndia iin idigital iworld iis idue ito ifast iaccepting iand iadaptation iof iadvance itechnology. iThe inetworking iof idigital imodules isuch ias iB2B, iB2C iand inetworking ilike i2G, i4G, iand i5G ienables ithe iconsumer ito iadapting ithe ifaster iand iefficient iaccess ito ibanking ithrough iandroid iapplications ion imobile i.This ibanking ion ismart iphone iis icalled iM-Banking iin iglobally. iOperating isystem iused iin imobile idevice ialso iplays ian iimportant irole iin idevelopment iof iApps ifor ieasy iaccess iof ivarious iservices. iThe ichallenges iand iissues iin iNET ibanking iand ichanging ipreference iof iconsumer ifrom inet ibanking ito imobile ibanking iare idiscussed iin ithis ipaper. i

1.1 History

• The iEuropean icompany icalled iPay iBox isupported ifinancially iby iDeutsche iBank, iin i1999 istarted imobile ibanking. i] iSMS iwas ithe iearliest imobile ibanking iservice ioffered. iIt iis ian iemerging ifield iin ithe ibanking isegment.

• Paytm iis ian iIndian ie-commerce ipayment isystem iand idigital iwallet icompany, ibased iout iof iNOIDA iSEZ i.It iis ian iIndia’s ifirst imobile ibanking icompany. iPaytm iwas ifounded iin iAugust i2010 iwith ian iinitial iinvestment iof i$2 imillion iby iits ifounder iVijay iShekhar iSharma iin iNOIDA. iIt istarted ioff ias ia iprepaid imobile iand iDTH irecharge iplatform, iand ilater iadded idata icard, ipostpaid imobile iand ilandline ibill ipayments iin i2013.

Other essay:   Sustainable banking practic

Literature ireview. i

• Dr iSaurabh iShrivastav i(2008) istated ithat iInternet ibanking iis ichanging ithe ibanking iindustry iand iis ihaving ithe imajor ieffects ion ibanking irelationships. i iThe inet ibanking, ithus, i”now iis imore iof ia inorm irather ithan ian iexception iin imany ideveloped icountries” idue ito ithe ifact ithat iit iis ithe ieconomical iway iof iproviding ibanking iservices. i iBanking iis inow ino ilonger iconfined ito ithe itraditional ibrick iand imortar ibranches, iwhere ione ihas ito ibe iat ithe ibranch iin iperson, ito iwithdraw icash ior ideposit ia icheque ior irequest ia istatement iof iaccounts. i iThere iis ineed ito iscan iand ianalyses ithe imarket iand irespond ito ithe ineeds iof icustomers iand ito igenerate iawareness iregarding iadvantages iof iinternet ibanking. i

• Bamoriya iand iSingh i(2011) ifound ithat ithe imobile ibanking ihas ithe iissues iand ichallenges ilike imobile ihandset icompatibility, istandardizing, isoftware idownloading, iprivacy i& isecurity. i i

i

• V. iDeva iDevan i(2013) istated ithe istudy ito iidentify ithe imindset iand ianalyze ithe isecurity iissues iin iMobile ibanking iamong ithe ibanking icustomers iin iIndia. i i

• Buhl, iSarita, i(2013) idetermined ithat isecurity iand iprivacy iissues iare ithe ibig iissue iin ie-banking. iIf isecurity iand iprivacy iissues iresolved, ithe ifuture iof ielectronic ibanking ican ibe ivery iprosperous

• Manoranjan iMohapatra, iet ial., i(2010) iAbout iForty ipercent iof ithe ipopulation iin iIndia iis iunbanked. iSince ie-banking ihas ievolved ias ia iplatform ifor ifuture iinnovations ithat ican ihave ilong iranging isocio-economic ibenefits ifor iIndia iand ihence ialso ibe iable ito icapitalize ion ithe iIndian igovernment’s idream iof, ione ibank iAccount iPer iIndian; iestablished iin ithe ifact ithat ie-banking iis ithe ineed iof ithe ihour iin iIndia itoday. iIt iis ia iwin-win isituation ifor iall iconcerned, ioperator’s ibanks iand ispecialist icompanies iare igradually igetting ithemselves iorganized ito ioperate ie-banking iservices ibanks iare iable ito ireach iremote iareas iwithout iincurring ithe iheavy iexpenses ithat iopening ia ibranch ientails ialso ithe iATM ipenetrating iin irural iareas iis inot ithat iHigh iwith ionly iforty iATM is iper imillion ipeople iin iIndia. i

• Bernadette iDaSilva iet ial., i(2010) iconducted ian iAnalysis ifor iinternet ibanking ithat ithe ibank icorporate ito iunderstand ithat ithere iare icertain iParameters iin ie-banking iwhich iare iaffected iby ithe idemographic istatus ilike iGender, iIncome ilevel iand iEducational iQualification ietc., ifor iopening iinternet ibank iaccount. iBank ioperations ithrough iinternet ican iattract ilonger icustomer iand iit iwill ienhance ithe ibrand iimage iof ibanks ifor iusage iof isophisticated itechnology.

• KR. iKamath i(2010) iBanks imay imore itowards iuniversal ibanking idriven iby ithe iforces iof ideregulation, iliberalizations, iand itechnological iadvancement. iThe ipressures iwould iemanate ifrom isuper imarkets, iutility iservice iproviders ietc., iTechnology ihas iplayed iand iis iplaying ia icritical iand iarguably ithe imost iimportant irole iin iredefining ithe ifinancial ibusiness. iBanks iare iresponding iby ioffering ialternative idelivery ichannels ilike iATMs, iTele ibanking, iinternet ibanking, imobile ibanking ietc., iMost iof ithe ibanks ihave ialready iimplemented icore ibanking isolution i(CBS) iacross iall ioffices ito iprovide i“anytime ianywhere” ibanking iin itrue isense.

• Malhotra, ipooja iand iSingh i(2010) ithis istudy iis ian iattempt ito ipresent ithe ipresent istatus iof iinternet ibanking iin iIndia iand ithe iextent iof iinternet ibanking iservices ioffered iby iinternet ibanks. iIn iaddition, iit iseeks ito iexamine ithe ifactors iaffecting ithe iextent iof iinternet ibanking iservices. iThe idata ifor ithis istudy iare ibased ion ithe isurvey iof ibank iwebsites iexplored iduring iJuly i2008. iThe isample iconsists iof i82 ibanks ioperating iin iIndia iat i31st imarch i2007. iMultiple iregression itechnique iis iemployed ito iexplore ithe ideterminants iof ithe iextent iof iinternet ibanking iservices. iThe iresults ishow ithat ithe iprivate iand iforeign iinternet ibanks ihave iperformed iwell iin ioffering ia iwider irange iand imore iadvanced iservices iof iinternet ibanking iin icomparison iwith ipublic isector ibanks. iAmong ithe ideterminants iaffecting ithe iextent iof iinternet ibanking iservices, isize iof ithe ibank, iexperience iof ithe ibank iin ioffering iinternet ibanking, ifinance ipattern iand iownership iof ithe ibank iare ifound ito ibe isignificant. iThe iprimary ilimitation iof ithe istudy iis ithe iscope iand isize iof iits isample ias iwell ias iother ivariables iwhich imay ihave ian ieffect ion ithe idecision iof ithe ibanks ito ioffer ia iwide irange iof iinternet ibanking iservices. iThe ipurpose iof ithe istudy iis ito ihelp ifill isignificant igaps iin iknowledge iabout ithe iinternet ibanking ilandscape iin iIndia. iThe ifindings iare iexpected ito ibe iof igreat iuse ito ithe igovernment, iregulators, icommercial ibanks iand iother ifinancial iinstitutions ie.g.: ico-operative ibanks iplanning ito ioffer iinternet ibanking, ibank icustomers iand ire-searchers.

Other essay:   About bank

• Azouzi iD. i(2009) ithis ipaper iaims ito icheck iif ithe icurrent iand iprompt itechnological irevolution ialtering ithe iwhole iworld ihas icrucial iimpacts ion ithe iTunisia iand ibanking isector. iParticularly, ithis istudy iseeks isome iclues ion iwhich iwe ican irely iin iorder ito iunderstand ithe icustomer’s ibehavior iregarding ithe iadoption iof ielectronic ibanking. iTo iachieve ithis ipurpose, ia iresearch iis icarried iout iin iTunisia iand iit ireveals ithat ipanoply iof ifactors iis iaffecting ithe icustomer’s iattitude itowards ie-banking. iFor iinstance; iage, igender iand ieducational iqualifications iseem ito ibe iimportant iand ithey isplit iup ithe igroup iinto ielectronic ibanking iadopters iand itraditional ibanking idefenders iand iso, ithey ihave isignificant iinfluence ion ithe icustomer’s iadoption iof ie-banking. iFurthermore, ithis istudy ishows ithat idespite ithe ipresidential iincentives iand iin ispite iof ibeing ifully iaware iof ithe ie-banking’s ibenefits, inumerous irespondents iare istill iusing ithe iconventional ibanking. iIt iis iworthy ito imention ithat ithe ifear iof iloss ibecause iof itransactions ierrors ior ihackers iplays ia isignificant irole iin ialienating iTunisian icustomers ifrom ionline ibanking.

• Reeti, isanjay iand iMalhotra i(2009) istated iabout ithe icustomers iperspectives iregarding ie-banking iin ian iemerging ieconomy. iSo ithat, ithe iauthor idetermining ivarious ifactors iaffecting icustomer iperception iand iattitude itowards iand isatisfaction iwith ie-banking iis ian iessential ipart iof ia ibank’s istrategy iformulation iprocess iin ian iemerging ieconomy ilike iIndia. iTo igain ithis iunderstanding iin irespect iof iIndian icustomers, ithe istudy iwas iconducted ion irespondents itaken ifrom ithe inorthern ipart iof iIndia. iThe imajor ifindings idepict ithe icustomers iare iinfluenced iin itheir iusage iof ie-banking iservices iby ithe ikind iof iaccount ithey ihold, itheir iage iand iprofession, iattach ihighest idegree iof iusefulness ito ibalance ienquiry iservice iamong ie-banking iservices

3. iResearch imethodology

Primary idata iis icollected ifrom i59 irespondents iusing ionline iquestionnaire. iIT iis ion ithe ibasis iof imean iand imode i.Secondary idata iwas ialso iused ifrom ithe iwebsite iof iTelecom iRegulatory iAuthority iof iIndia i(TRAI). iThe iresponses iare ianalyzed iand itabulated iin ithe ipaper. i i

i3.1 iObjectives i i

 To iknow i i iconsumer ipreference iregarding ionline ipayment itransfer ithrough iAndroid iapplication.

 To istudy ithe iutilization iof ionline ipayment itransfer ithrough iapplications isuch ias ibilling, ibooking ionline.

 To istudy ithe idifference ibetween iNet ibanking iand iMobile ibanking.

 To istudy ithe imerits iand ilimitations iabout ithe imobile i/net ibanking.

3.2 iHypothesis

 H0: iConsumers ipreference itowards iM-services iprovide iby ipaytm ionline iapp iis inegative.

 H1: iConsumers ipreference itowards iM-services iprovided iby ipaytm ionline iapp iis ipositive.

 H0: iThere iis ino iutilization iof iM-banking iservices iamong ithe icustomers

 H2: iThere iis ia iutilization iof iM-banking iservices iamong ithe icustomers.

Other essay:   Secure banking system using block chain technology

 H0: iThere iis ino idifference ibetween iin iM-banking iservices iand iNet ibanking iservices iby icustomers.

 H3: iThere iis idifference ibetween iin iM-banking iservices iand iNet ibanking iby icustomers.

 H0: iThere iare idemerits iof iM-banking iservices.

 H4: iThere iare imerits iof iM-banking iservices

Data iinterpretation iand ianalysis i

i iFigure i1: iWireless isubscribers iin iall iIndia.

From ithe iabove itable iwe ican isay ithat ithere iis iincreasing isubscribers ifor i

Wireless inetworks ias iper ithe iTRAI iannual ireport.

Security iand iauthentications:

 The isecurity iand iauthentication iguidelines iprovided iby ithe iRBI ion iMobile iBanking: i

 The iOTP ior ihigher istandard iof imechanism ishould ibe iused ito iauthenticate ithe iMobile iBanking icustomer. i

 End-to-end isecure iencryption imechanism ishould ibe ifollowed iin itransactions.

 QR icode iscanning iand irefundable iservices ion ithe imobile ibanking isystems ito iensure icomplete isecurity. i

Mobile ibanking imodels i(payments)

 E iwallet

 Credit icard

 Carrier ibilling

 Contactless ipayments iNFC i(Near iField iCommunication.

ANALYSIS i

i i i i i i i i i iFigure i2: iAndroid iapp iused ifor ionline ipayment itransfer.

i i i i i i i

i i i i i i i i i iInterpretation

 From ithe iabove ifigure iwe ican iinterpret ithat i52% iof irespondents irelay ion ipaytm iapplication i.this ithe ihighest iand imost ipreferable iapp iused ifor itransfer ipayment.

i i i i i i i i i i i i i i i iFigure i3: iusage iof imobile ibanking iover inet ibanking.

.

Interpretation i

• From ithe iabove itable iwe ican iinterpret ithat i ithe i iswitching iof iconsumer ipreference ifrom inet ibanking ito imobile ibanking i.62% ifor imobile ibanking

FIGURE: i4 iSECURITY

i

Interpretation i

The i47.5% irespondents ifinds isafe iand isecure iand ifinds iits inormal”,30.5% i irespondents iseems ito ibe istrongly iagree ithat ithey ifind isecure i”,22% iare idisagree iabout isecurity i.

Limitation

 The inet ibanking iand imobile ibanking irequired iaccess ito iinternet

 To iaccessible ifor imobile ibanking ismart itechnology iphone iis irequired iwithout ithat imobile ibanking imay inot icome iin iaccess.

 Insecure ito iuse iand itrust imobile ior inet ibanking.

Suggestions

Based ion ithe ionline isurvey, iit iis ifound ithat imost iof ithe irespondents iare iusing imobile ibanking ifacility ifrom itheir irespective iandroid iapplication. iHowever iaround i62% iof icustomers iare iusing imobile ibanking iand iremaining i35% iare inot. iThe imajority iof ithe ibanking iusers iare icomfortable iin iusing ithe imobile ibanking ifacility iand inet ibanking iand iboth ias ithey iare ialso iinterested ito itest ithe ifacility. i

Conclusion

iCustomers iare imore iconscious iregarding ithe ipayments ithrough ionline itransfer iwebsites ior iapplications ibecause ithey iare inot i i iopen ifor ionline ipayments. iNet ibanking iprovides icustomers ito iaccess iits iaccounts iand itransfer ianytime iand ianywhere iwhich ibrings iflexibility iin itransactions. iThere iis ithreat ifor icyber-crime ias ithe itransactions iand ivarious iactivities itake iplace ionline i.the iamount iof icybercrime iis iincreasing idue ito iwhich icustomers iare imore iconscious iand inot ireadily iaccepting ifor ionline itransfer. iThe ichanging ipreference ifrom inet ibanking ito imobile ibanking ioccurred iin iyear i2017 i.government ipolicies isuch ias idemonetization iand iother ifactors iare ithe ireasons ifor ichanging ipreference iof icustomer. iEverything iand ieverywhere ifacility ibring iaccess ito imany ithings ionline ithrough ismart iphone iany icustomer ifinds imobile ibanking imore iconvenient ias icompare ito inet ibanking.

In igeneral, ithe ishare iof ielectronic ipayments iin ithe itotal ivolume iof iretail ipayments ihas igone iup. iThe ishare iof ielectronic itransactions iin ithe itotal ivolume iof iretail ipayments iincreased ito i92.6 iper icent iin i2017-18, iup ifrom i88.9 iper icent iin ithe iprevious iyear iwith ia icorresponding ireduction iin ithe ishare iof ipaper-based iclearing iinstruments ifrom i11.1 iper icent iin i2016-17 ito i7.4 iper icent iin i2017-18. i

Reference ior ibibliography.

www.wikipedia.com

www.timesesnow.com

www.economicstimes.com

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