India cuts USSD charges to boost mobile banking

(Telecompaper) India's Telecom Regulatory Authority announced a cut in the maximum fee for USSD banking, in an effort to support mobile payment services. Effective immediately, the maximum cost per USSD session is INR 0.50, down from INR 1.50 previously, and the number of transactions per session increases to eight from five. Trai said the lower price will help increase access to financial services, especially in rural areas where more and more people have mobile phones.