Mobile payment solution provider ngpay has come out in support of RBI’s recently laid out norms for mobile banking services in the country.

“The RBI guidelines are very well balanced,” said Sourabh Jain, CEO of ngpay.  “They ensure robust, end-to-end security while not restricting the flexibility that banks have in deploying next generation mobile services.”

The company further went on to claim that all its offerings are fully compliant with the RBI’s norms. “ngpay has always been and continues to be 100% compliant with RBI guidelines,” said Abhijit Bose, Vice President of ngpay.

“In particular, the guideline for end-to-end security is critical and will have a positive impact on the mobile commerce and banking markets. For example, any plain text communication, including SMS and USSD, does not provide end-to-end security.  RBI is wisely ensuring that robust security and control are in place early in the evolution of this market – which in the end will benefit all consumers,” he added.