India’s 2G network is good enough for mobile financial services (MFS) in the midst of challenging 3G and 4G environment, says a senior official at the US-based IT service provider, Amdocs.
“The MFS application doesn’t need high bandwidth, fast speed and big capacity. The 2G in India is good enough for these data transferring services,” said Uri Gurevitz, director of marketing, Market Insight & Strategy at Amdocs (Israel) Ltd.
Though India is in various phases of 3G and 4G network, the IT community acknowledges infrastructure challenges. Noting these, Gurevitz pointed out that some of the innovative services can work on 2G network.
Meanwhile, more and more Indians are expected to use MFS in banking activities as they become aware on the ease of working online.
An Amdocs survey concluded that 24 per cent of the Indians will use MFS for paying for education, medical treatment and utility bills and 28 per cent for loans, savings and insurance over the next 12 months.
But the survey found a high 53 per cent of Indians concerned about security in dealing the MFS.
Conducted by analyst and consultancy firm Ovum for Amdocs, the survey found 48 per cent were positive on MFS on “the ease of use” and 46 per cent on “the ability to use the service anywhere” in the country.
But it also discovered that 24 per cent of the Indians with bank accounts were not aware of the MFS.
fii-news.com
