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Article Information:
Mobile Phone Technology in Banking System: Its Economic Effect
F.I. Anyasi and P.A. Otubu
Corresponding Author: Francis Anyasi Ifeanyi
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Abstract:
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Globally, various initiatives use the mobile phone to provide financial services to those with or
without access to traditional banks. This paper outlined vividly the use of mobile phone in the banking industry,
its economic implications, and in general a systematic look into the various forms of mobile banking with
emphasis on the security measures that makes the whole process safe for adoption. The emergence of mobile
banking technology systems has implications for the general discussions about mobile telephony in the
developing world. Existing theory about the significance of mobile communications in the developing w orld
has focused on voice and text messaging. Moreso, the emergence of mobile banking also underscores how,
occasionally, innovations emerge from unexpected places and have the capability of reconfiguring the
significance of a technology to its users, offering a way to lower the costs of moving money from place to place
and opening a way to bring more users into contact with formal financial systems.
Key words: Mobile phone, banking system, economy, , , ,
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Cite this Reference:
F.I. Anyasi and P.A. Otubu, . Mobile Phone Technology in Banking System: Its Economic Effect. Research Journal of Information Technology, (1): Page No: 1-5.
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ISSN (Online): 2041-3114
ISSN (Print): 2041-3106 |
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