Technology

SMS Services

Short Messaging Service (SMS) is a simple but powerful tool for communication. ApnāKhātā app uses SMS as its powerful authenticating tool thereby making it simple for users and saves the trouble of having to remember multiple passwords, codes, syntaxes, commands, phone numbers and website links.

It also uses the power of technology to remember the syntax of SMSes to do banking and financial transactions. Encryption adds to the security.

Advantages

For the Banks
• Anyone with a phone can avail SMS Banking. Banks can take advantage of the powerful features of the app combined with less cost of the SMS and high reachability to boost its customer base through SMS Banking
• Encryption of SMS provides for added security
• Banks can benefit substantially by reduced cost of transaction. A typical branch banking costs on an average ₹ 50 /- whereas SMS Banking can reduce this cost drastically
• Quick and easy shortcuts for transactions such as Fund transfers, Merchant Payments, Bill Payments via SMS Banking helps curtail counterfeit, Cheque/Cash handling. Our app provide easy shortcuts to enable users to minimize errors
• It also reduce load on Branch banking, Customer Care Center and Net banking for the banks

For the Merchant
• Reduced cost of transaction through lesser cost of communication
• Enhances digital transactions and takes off the load on cash transactions
• Increased flow of transactions as customers would not hesitate transact as there is no need to share Credit Card number, CVV No, Date of Birth etc.

To the end users
• Time spent in travel, queues are reduced
• Utility payments such as Electricity, Water, DTH, School fees, facilities such as fund transfer, third party payments etc., can be done with minimum effort
• With a single app, a user can transact with multiple banks

Unstructured Supplementary Service Data (USSD)

USSD supported by NPCI, about 40 Banks have introduced USSD services in India which can be easily used by even old people, rural customers and semi-literate users. For example, if you need Mini-Statement, the following string can be stored in your Address Book as a Contact and called when required

Banks Contact String

*99*4*1*41# - for State Bank of India

*99*4*1*42# - for Punjab National Bank

*99*4*1*43# - for HDFC Bank

*99*4*1*44# - for ICICI Bank

*99*4*1*57# - for Corporation Bank

*99*4*1*58# - for Indian Bank

*99*4*1*76# - for Karnataka Bank

*99*4*1*79# - for RBL