The Reserve Bank of India has issued draft guidelines on mobile payments
Mobile Payment has been defined as information exchange between a bank and its customers for financial transactions through the use of mobile phones. Mobile payment involves debit and credit to a customer’s accounts on the basis of funds transfer instruction received over the mobile phones
--- Only banks licensed and supervised in India can offer mobile payment services
--- Only INR based services should be provided
To download the same click on the link below
/share_files/files_display.asp?files_id=6845
CAclubindia
