Digital Money
Digital Money is totally different from Paper money and It doesn’t use cash. Digital money transactions being done by the computer or smartphone, or via credit card or internet. It will convert into cash only when an ATM or cash machine will be used. The Digital Money Transfer managed by financial services companies. They have become the medium of transaction. Online banking is easily possible via Digital Money. It does not require the use of cash and does not need to be the bank.
Mobile Banking
Mobile banking means banking through Mobile. It means that account with mobile banking is always moving along with you. In today’s run-runaway life, Mobile banking is proven to be helpful in reducing your difficulties. The advantage of mobile banking that it is available anywhere, anytime under any circumstances. Mobile banking via your mobile via SMS or WAP is operated. SMS banking is a small part of mobile banking,.
Nowadays, Account holder who is given application for mobile banking or SMS banking option, the ATM or any type of account transaction information is made available on mobile via SMS. This helps you to know the each transaction details on your mobile phone.
Analysts believe that mobile banking will replace credit and debit card system in future. 85-90 per cent of mobile banking users do not use the credit card. It is exactly the same as ATM. It is extremely convenient to use and cheaper. Operational costs of the bank in ATM than decrease. The benefits to pay bills, transfer funds and are used to check bank balance etc.
What are Mobile Money and Know How Works Mobile Banking?
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