Vodafone India, Airtel, Idea waive off USSD-based mobile banking charges to encourage cashless economy

In the backdrop of demonetization and the drive to encourage the cashless economy, telecom operators Vodafone India , Airtel, and Idea Cellular have announced the waiving off all USSD (Unstructured Supplementary Service Data) charges presently levied for mobile banking till 31 December 2016. Telcos believe that this measure can ease the burden of masses, primarily by encouraging the customers who use feature phones to adopt mobile banking.

mobile-india-4G

Commenting on the waiving off charges, Mr. Sunil Sood, Managing Director and Chief Executive Officer, Vodafone India, said, “Vodafone India is committed to helping actualize the Government’s several initiatives designed to make India a digital economy. To ease the burden of masses, we are waiving off all USSD charges presently levied for mobile banking till 31 December 2016.”

“As several million customers use feature phones, we are hopeful that this free access to mobile banking will encourage them to adopt it as their preferred and convenient mode for banking,” he said.

Vodafone has its digital wallet service M-Pesa. “With Vodafone M-Pesa, we are leveraging the reach of mobile technology to drive financial inclusion and offer the convenience of a digital wallet for easy transactions. The unique cash out feature of Vodafone M-Pesa makes it the ideal digital wallet for masses, enabling users to digitize cash, remit it to family and friends, pay bills and/or withdraw it at their convenience from over 120,000 touch points across the country,” Sood added.

Also Read: Vodafone educates retailers to prevent sim related frauds

“To support customers during the ongoing demonetization exercise, Bharti Airtel has waived off transaction charges for all USSD-based mobile banking transactions over its network till December 31, 2016. We would encourage customers to leverage this benefit for their convenience,” said an Airtel spokesperson.

The USSD service allows customers to access banking services through a short code *99# irrespective of mobile carrier. The subscribers have to enter the first four digits of the IFSC of the bank to access the USSD-based services.

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SunilNickJio FactShanHrishiguru Recent comment authors
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Jio Fact
Jio Fact

Not free.
Fame news
Deducted money
TT atleast verify once prior posting here.

And yes if these companies really cared for Digital India then would have decreased the 3G plans coating so that more users can opt their service but their intention is not good in any case .
They are more dangerous than RCOm becu , RCOM deducted unknowingly but these companies says it’s free and when use it your money is deducted .

Hrishiguru
Hrishiguru

Just tried ussd code *99# and balance deducted in Idea MP

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