Abstract
Bangladesh is a developing country where mobile network operators had been started from 1993 through AMPS (Advanced Mobile Phone Service) and later on CDMA (Code-Division Multiple Access) technology was introduced and mobile banking facilities were started clearly under a guideline of the central bank of Bangladesh on ‘Mobile Financial Services for Banks’ in September 2011. Though m-banking is a newer service in the country meanwhile it has got very popularity within a short time due to inadequate traditional banking facilities. In this study, mobile banking of Bangladesh has been emphasized on some transactional usages and with a new concept. There are many villages in Bangladesh where no financial institution exists physically for financial transactions yet. Through this study, the researcher also found that many villages are very far away from the bank area. But people who have no bank accounts are now habituated with mobile banking facilities and happy with the services. Since some financial institutions are allowing their subscribers (mobile banking account holders) to use ATM facilities for cash withdrawal, so the m-banking is being popular in the village, semi-urban, urban, and city areas. The subscribers are being accustomed to mobile banking services and the users are also increasing tremendously with time.
Highlights
Mobile commerce services were first delivered in 1997 and during that time the first two mobile phone companies enabled Coca-Cola vending machines were installed in the Helsinki area in Finland
Any personal or business transaction involving the transfer of ownership or rights to use money by any bank or financial institution which is facilitated by using mobile devices with wireless access technology is called mobile banking
The mobile banking facilities have made a significant bond over the country for the transaction which is a revolution in Bangladesh
Summary
Mobile commerce services were first delivered in 1997 and during that time the first two mobile phone companies enabled Coca-Cola vending machines were installed in the Helsinki area in Finland. This work evolved to several new mobile applications using SMS such as the first mobile phone-based banking service was launched in 1997 by Merita Bank of Finland. Any personal or business transaction involving the transfer of ownership or rights to use money (hard or soft) by any bank or financial institution which is facilitated by using mobile devices with wireless access technology is called mobile banking. Without any physical existence of branch it may transact money. M-commerce involves the delivery of electronic commerce facilities through cell phones or the same type of other mobile devices by using Apps or USSD (Unstructured Supplementary Service Data) code
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