TRAI Consultation Paper on the review of regulatory framework for the use of USSD for mobile financial services

The Telecom Regulatory Authority of India (TRAI) issued a consulting paper for a unified platform which can support all variety of mobile payment services including merchant payments, utility bill payments, mobile and DTH recharge through USSD. This was suggested by the department of financial services (DFS), the department of economic affairs (DEA) and the National Payments Corporation of India (NPCI) promoting a more cashless society to enable financial inclusion.

The consultation paper also looks at ways to increase mobile banking through USSD and TRAI has also suggested increasing the number of stages and decreasing charges in a single session

This includes the use of short codes for DFS and mobile banking.

New regulations following the consultation paper were released in November 2016.

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2016

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