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State reasons for the increased use of cell phones in banking

State reasons for the increased use of cell phones in banking.

Answers

gregory
? Easy to transact / easy ownership
? It saves on time since there is no traveling and queuing for the services.
? The speed of transaction is fast / quick feedback.
? It reduces paper- work by eliminating the need for physical files and other
documentations.
? The use of PIN enhances security
? Increased ownership of mobile phones
? Transactions can be conducted any time
? Reduce transaction costs (travel and bank charges)
? Easy access to transaction records
? It is a requirement by service providers (utility bills)
? Easy to obtain credit facilities e.g. M-Shwari loan
gregorymasila answered the question on January 26, 2018 at 06:41

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