Manmohan Singh, Prime Minister of India was overwhelmed at the changing scenario of common man in the nation in using communication technologies for running their economy.
He veiwed that mobile (m) transactions would really benefit such low income group people who can save their time and energy in closing the deal and go in search of new remunerative occupations. A simple mobile commerce framework works all the wonders. Telecom companies can take up the challenge to ensure that they integrate with mobile payment or commerce options. In line with the view, Y V Reddy, Governor, Reserve Bank of India acknowledged in a public meeting that mobile telephony with its much deeper penetration has all the possibilities of forming the base for payment and settlements in the near future.