Over 50% consumers will be in mobile banking ambit by 2015

With the Reserve Bank hiking the mobile banking transaction limit to Rs50,000, more than 50% of bank account holders are expected to come under this platform by 2015, a leading service provider said.

"The recent hike in the limit of mobile banking transactions by the Reserve bank will be a boost for the industry, and will bring more than 50% of Indian bank account holders under the ambit of this platform by 2015," PayMate's managing director, Ajay Adiseshann said here.

Banking regulator, Reserve Bank of India, had recently, hiked the limit of mobile banking transactions from Rs5,000 to Rs50,000.

The opportunity in mobile banking has become enormous, and more than 50% of India's 20-crore bank account holders would become beneficiaries of mobile banking, he said.

"This would be because of the high mobile penetration in the Indian market, and the ease and comfort provided by mobile banking," Adiseshann said.

PayMate has now emerged as a leader in its segment with nearly nearly 40-45% of mobile banking clients using the company's gateway for their transactions, a survey conducted by AC Nielson said.