The Study of Mobile Banking In India and Its ...

The Study of Mobile Banking In India and Its Impact

Author Name : Kushagra Shankar, Dr. Himanshu Gupta

ABSTRACT Banking is the foundation of every business and technology plays an important role in every business. The role of technology in the development of the banking sector has also increased. The banking industry is one of the largest financial institutions that is constantly looking for new technologies to provide better service to its customers. Over the years, the banking industry has evolved from the traditional brick Vandmortar model where customers queued up at banks to get services, to modern banking where banks can be contacted from anywhere for services. In today's business world, technology is always the best indicator of growth and competition. Today's financial sector is a changing sector. Information technology is used in two different ways in the financial sector. One is communication and connection, the other is business. Banks today are welcoming wireless and mobile technology into meeting rooms, giving customers the freedom to pay bills, organize payments for public transport trips, receive updates on various business announcements while attending meeting and this enables much in the coming together of people and relationships. This article explores consumer adoption of new electronic payment services such as mobile banking and the pros and cons affecting banking in India.