Lower ceiling tariff for USSD to increase transactions by 10 times: Trai’s Sharma

New Delhi: India’s telecom regulator has reduced tariffs for a communications protocol used in mobile banking and payment services to a third of the existing rates in a bid to widen financial inclusion and propel the move towards cashless transactions.

The Telecom Regulatory Authority of India cut the tariff to 50 paise a session to benefit consumers with feature phones who make up more than 65% of the country’s 1 billion-plus mobile phone users. The protocol, known as USSD or Unstructured Supplementary Service Data, is most commonly used for checking talk time balances or account information and for mobile banking transactions.

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http://telecom.economictimes.indiatimes.com/news/lower-ceiling-tariff-for-ussd-to-increase-transactions-by-10-times-trais-sharma/55562950

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