Mobile Banking Services

Mobile banking through a mobile phone is possible for the following technologies: first is the interactive voice response (IVR). This uses software which requires the user to enter data on a mobile keypad. This is usually through voice recording to be followed with a concern. Second, sending text messages is the most used technology since it does not depend on the model of the phone. The user can request services through a set of codes for every transaction to be made (Añes, Aquino, Carpio,et al, 2009).

Push and Pull Services
Mobile banking services can be classified into two categories - push and pull services. Push services are wherein the bank sends out information based on a set of rules. An example of this are the alert messages that the bank sends of one's account balance is low or falling below minimum. Pull services on the other hand, require the users to request for information from the bank, or request the bank to perform certain transactions. Account balance inquiries, fund transfers and bill payments are examples of these services.

Transactions and Inquiries
Mobile banking services can be further categorized into two more - transactions and inquiries. The former includes fund transfers, bills payment and withdrawals; while the latter includes, account balance inquiries, transaction histories and minimum balance alerts. The table below classifies mobile banking services:
Source:
Añes, Aquino, Carpio, Lim, Tanjutco (2009), Mobile Banking in the Philippines, retrieved from Scribd.com. Website: http://www.scribd.com/doc/13522207/MOBILE-BANKING-IN-THE-PHILIPPINES

First image: http://www.telecomcircle.com/2009/05/mobile-money-transfer-mmt/