How to use USSD-based mobile banking, here’s everything you should know

USSD-based mobile banking enables you to send money, check account balance, mini statement and more without internet connectivity.

India is gradually moving towards becoming a cashless economy, and the recent demonetization of old currency notes is serving as a catalyst in achieving PM Narendra Modi’s dream of Digital India. With the ongoing cash crunch due to shortage of new currency notes, a lot of smartphone users have already moved to digital wallets for paying at food courts, fast-food outlets and petrol pumps, or for making landline and electricity bill payments, mobile, DTH and data card refill, and more. UPI-based apps have also started getting traction where customers can easily pay for services, send and receive funds using their smartphone. But what about people, especially in rural areas, who don’t own a smartphone, nor have access to the internet? Well, USSD-based mobile banking has got them covered.

It’s not just about non-smartphone users. There are times when we don’t have access to internet, and this is exactly when USSD-based mobile banking can be a savior. Here, USSD is the abbreviation for Unstructured Supplementary Service Data. The Interface is built by National Unified USSD Platform (NUUP), and your bank and telecom operator are parties between whom the USSD communication takes place. The technology uses GSM network channels to transmit information. Essentially, it will work on a basic phone with black-and-white display, a feature phone and on smartphones.

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