India's NPCI rolls out national mobile payments platform

National Unified USSD Platform (NUUP) offered on a short code *99# is a service which would take banking services to every common man in this country. The service would allow every banking customer to access banking services with a single number across all banks - irrespective of the telecom service provider, mobile handset make or the region.

Benefits of NUUP
- *99# one number for every Indian to access banking services.
- 90% of phones used in the country are GSM phones and this service works on all GSM phones irrespective of handset make, cost, operating system or even the telecom service provider
- Works on basic voice connectivity - unlike an application GPRS connectivity is not required
- The customer need not download any application on the phone
- Question and answer driven interaction - simple for everyone to understand
Benefits to the Bank
- *99# service can be used at BC POS terminals to serve the rural populace
- Access to all telecom service providers through a single integration with National Payment Corporation of India
- Easier adaption to mobile banking due to simplicity of service and technology
- Easier to promote a single code *99# for banking services across all banks.
Current Status of Service
- Service live with 23 banks and two telco (BSNL and MTNL)
- IMPS fund transfer service is available and NPCI is awaiting permission from RBI to enable other banking services like 'Balance Enquiry', 'Mini Statement' and 'Request for Cheque Book'

'Given that mobile phones have become hugely popular in India, mobile financial services offers a great opportunity for enabling financial services to all Indians at an affordable cost and thus enabling rapid financial inclusion. A common platform for all banks instead of each bank having to develop a platform is a strategic move by NPCI to help banks and let them focus on customers to enable this service while NPCI manages the technology behind the platform' Said Sri A P Hota.